Equity Commonwealth (EQC) Sets New 1-Year High at $31.27
Equity Commonwealth (NYSE:EQC)’s share price hit a new 52-week high on Wednesday . The company traded as high as $31.27 and last traded at $31.13, with a volume of 362,918 shares changing hands. The stock had previously closed at $31.06.
A number of equities analysts recently weighed in on EQC shares. Bank of America Corp. raised Equity Commonwealth from a “neutral” rating to a “buy” rating in a report on Monday, August 15th. Zacks Investment Research cut Equity Commonwealth from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Citigroup Inc. raised their price objective on Equity Commonwealth from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $32.00.
The stock has a 50-day moving average of $30.00 and a 200-day moving average of $28.65. The company has a market cap of $3.95 billion and a price-to-earnings ratio of 23.46.
Equity Commonwealth (NYSE:EQC) last issued its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The business earned $145.37 million during the quarter, compared to analysts’ expectations of $136.57 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down 28.6% compared to the same quarter last year. Equities research analysts predict that Equity Commonwealth will post $1.14 earnings per share for the current year.
An institutional investor recently raised its position in Equity Commonwealth stock. Utah Retirement Systems boosted its stake in Equity Commonwealth (NYSE:EQC) by 0.3% during the fourth quarter, according to its most recent filing with the 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 as of its most recent SEC filing.
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.