Equity Commonwealth (EQC) Reaches New 1-Year High at $31.27
Shares of Equity Commonwealth (NYSE:EQC) hit a new 52-week high during trading on Wednesday . The company traded as high as $31.27 and last traded at $31.13, with a volume of 362,918 shares traded. The stock had previously closed at $31.06.
A number of analysts recently commented on the company. Zacks Investment Research lowered 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 company’s stock. Equity Commonwealth has a consensus rating of “Hold” and an average price target of $30.33.
The stock has a market cap of $3.91 billion and a PE ratio of 23.24. The stock’s 50 day moving average is $29.90 and its 200 day moving average is $28.61.
Equity Commonwealth (NYSE:EQC) last announced its earnings results on Thursday, July 28th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the 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. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue was down 28.6% on a year-over-year basis. Equities research analysts predict that Equity Commonwealth will post $1.17 EPS for the current year.
A hedge fund recently bought a new stake in Equity Commonwealth stock. Employees Retirement System of Texas acquired a new position in shares of Equity Commonwealth (NYSE:EQC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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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