Equity Commonwealth (EQC) Sets New 1-Year High at $29.96
Equity Commonwealth (NYSE:EQC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $29.96 and last traded at $29.49, with a volume of 299,401 shares trading hands. The stock had previously closed at $29.87.
A number of brokerages recently issued reports on EQC. Zacks Investment Research raised Equity Commonwealth from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a research report on Monday. JMP Securities reissued a “buy” rating on shares of Equity Commonwealth in a research report on Monday, April 11th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $30.33.
The stock’s 50 day moving average price is $29.06 and its 200 day moving average price is $27.82. The stock has a market cap of $3.70 billion and a price-to-earnings ratio of 36.02.
Equity Commonwealth (NYSE:EQC) last issued its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company earned $137.14 million during the quarter, compared to analyst estimates of $136.40 million. During the same period in the previous year, the company posted $0.55 EPS. The company’s quarterly revenue was down 35.6% on a year-over-year basis. On average, equities research analysts expect that Equity Commonwealth will post $1.13 earnings per share for the current year.
Other large investors recently modified their holdings of the company. Waterfront Capital Partners LLC boosted its stake in shares of Equity Commonwealth by 5.1% in the fourth quarter. Waterfront Capital Partners LLC now owns 1,082,696 shares of the real estate investment trust’s stock valued at $30,023,000 after buying an additional 52,690 shares during the last quarter. Green Street Investors LLC boosted its stake in shares of Equity Commonwealth by 13.4% in the fourth quarter. Green Street Investors LLC now owns 65,100 shares of the real estate investment trust’s stock valued at $1,805,000 after buying an additional 7,700 shares during the last quarter. IronBridge Capital Management LP bought a new stake in shares of Equity Commonwealth during the fourth quarter valued at $3,529,000. Stevens Capital Management LP boosted its stake in shares of Equity Commonwealth by 339.3% in the fourth quarter. Stevens Capital Management LP now owns 67,077 shares of the real estate investment trust’s stock valued at $1,860,000 after buying an additional 51,809 shares during the last quarter. Finally, Shell Asset Management Co. bought a new stake in shares of Equity Commonwealth during the fourth quarter valued at $1,120,000.
Equity Commonwealth (EQC) is an internally managed and self-advised real estate investment trust (REIT). The Company is engaged in the ownership and operation primarily of office buildings in central business district (CBD) and suburban locations throughout the United States. The Company’s two reportable segments include CBD properties and suburban properties.
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