Equity Commonwealth (NYSE:EQC)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $30.75 and last traded at $30.62, with a volume of 273,958 shares traded. The stock had previously closed at $30.62.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Equity Commonwealth from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Monday, July 11th. Bank of America Corp. raised Equity Commonwealth from a “neutral” rating to a “buy” rating in a research note on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.33.

The stock has a market capitalization of $3.85 billion and a PE ratio of 22.86. The firm’s 50-day moving average is $29.76 and its 200-day moving average is $28.45.

Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.12. The firm earned $145.37 million during the quarter, compared to the consensus estimate of $136.57 million. The firm’s quarterly revenue was down 28.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, analysts predict that Equity Commonwealth will post $1.19 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Equity Commonwealth stock. Utah Retirement Systems boosted its stake in shares of Equity Commonwealth (NYSE:EQC) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,180 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in Equity Commonwealth were worth $1,003,000 at the end of the most recent reporting period.

Equity Commonwealth is an internally managed and self-advised real estate investment trust (REIT). The Company is engaged in the ownership and operation of office buildings throughout the United States. It operates in central business district properties and suburban properties segment. The Company’s portfolio includes approximately 60 properties (over 130 buildings) with a combined of approximately 24 million square feet.

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