Equity Commonwealth (EQC) Sets New 1-Year High at $30.75
Shares of Equity Commonwealth (NYSE:EQC) reached a new 52-week high during trading on Thursday . The company traded as high as $30.75 and last traded at $30.62, with a volume of 273,958 shares. The stock had previously closed at $30.62.
A number of analysts have recently commented on the company. Zacks Investment Research downgraded Equity Commonwealth from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Bank of America Corp. upgraded Equity Commonwealth from a “neutral” rating to a “buy” rating in a report on Monday, August 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $30.33.
The firm has a market capitalization of $3.84 billion and a PE ratio of 22.82. The firm has a 50 day moving average price of $29.82 and a 200 day moving average price of $28.50.
Equity Commonwealth (NYSE:EQC) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.12. The business had revenue of $145.37 million for the quarter, compared to the consensus estimate of $136.57 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. The company’s quarterly revenue was down 28.6% on a year-over-year basis. Equities analysts anticipate that Equity Commonwealth will post $1.19 earnings per share for the current year.
A hedge fund recently bought a new stake in Equity Commonwealth stock. Employees Retirement System of Texas bought a new position in Equity Commonwealth (NYSE:EQC) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor bought 51,500 shares of the real estate investment trust’s stock, valued at approximately $1,428,000.
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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