Equity Commonwealth (EQC) Shares Sold by Wagner Bowman Management Corp
Wagner Bowman Management Corp cut its position in shares of Equity Commonwealth (NYSE:EQC) by 2.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,568 shares of the real estate investment trust’s stock after selling 275 shares during the period. Wagner Bowman Management Corp’s holdings in Equity Commonwealth were worth $278,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in Equity Commonwealth by 1,008.3% in the second quarter. Acadian Asset Management LLC now owns 3,890 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 3,539 shares in the last quarter. Creative Planning raised its stake in Equity Commonwealth by 20.2% in the second quarter. Creative Planning now owns 5,959 shares of the real estate investment trust’s stock valued at $174,000 after buying an additional 1,002 shares in the last quarter. BlackRock Japan Co. Ltd raised its stake in Equity Commonwealth by 1.9% in the first quarter. BlackRock Japan Co. Ltd now owns 6,736 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 124 shares in the last quarter. Chesley Taft & Associates LLC acquired a new stake in Equity Commonwealth during the second quarter valued at about $292,000. Finally, Fox Run Management L.L.C. acquired a new stake in Equity Commonwealth during the second quarter valued at about $370,000. Institutional investors and hedge funds own 92.54% of the company’s stock.
Shares of Equity Commonwealth (NYSE:EQC) traded up 1.41% during trading on Wednesday, hitting $30.83. The stock had a trading volume of 890,100 shares. The company’s 50 day moving average price is $30.50 and its 200 day moving average price is $29.03. Equity Commonwealth has a 52 week low of $25.23 and a 52 week high of $31.91. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 23.01 and a beta of 0.40.
Equity Commonwealth (NYSE:EQC) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The business earned $145.37 million during the quarter, compared to analyst estimates of $136.57 million. Equity Commonwealth had a return on equity of 6.92% and a net margin of 35.80%. The firm’s revenue was down 28.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. Analysts predict that Equity Commonwealth will post $1.14 earnings per share for the current year.
EQC has been the topic of a number of recent research reports. Bank of America Corp. upgraded Equity Commonwealth from a “neutral” rating to a “buy” rating in a research note on Monday, August 15th. Zacks Investment Research upgraded Equity Commonwealth from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, July 5th. Finally, Citigroup Inc. increased their target price on Equity Commonwealth from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Equity Commonwealth currently has a consensus rating of “Hold” and an average target price of $32.50.
About Equity Commonwealth
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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