Strs Ohio Has $4.91 Million Stake in Equity Commonwealth (NYSE:EQC)
Strs Ohio cut its stake in Equity Commonwealth (NYSE:EQC) by 19.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,305 shares of the real estate investment trust’s stock after selling 36,488 shares during the period. Strs Ohio’s holdings in Equity Commonwealth were worth $4,907,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EQC. Manning & Napier Advisors LLC increased its position in Equity Commonwealth by 44.1% in the second quarter. Manning & Napier Advisors LLC now owns 201,165 shares of the real estate investment trust’s stock valued at $6,355,000 after buying an additional 61,535 shares during the period. Peregrine Capital Management LLC increased its position in Equity Commonwealth by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 316,960 shares of the real estate investment trust’s stock valued at $10,016,000 after buying an additional 6,331 shares during the period. Aperio Group LLC increased its position in Equity Commonwealth by 19.8% in the second quarter. Aperio Group LLC now owns 54,390 shares of the real estate investment trust’s stock valued at $1,719,000 after buying an additional 8,992 shares during the period. Chesley Taft & Associates LLC increased its position in Equity Commonwealth by 5.6% in the second quarter. Chesley Taft & Associates LLC now owns 20,760 shares of the real estate investment trust’s stock valued at $656,000 after buying an additional 1,100 shares during the period. Finally, Nepsis Capital Management Inc. increased its position in Equity Commonwealth by 0.9% in the second quarter. Nepsis Capital Management Inc. now owns 51,007 shares of the real estate investment trust’s stock valued at $1,612,000 after buying an additional 436 shares during the period. 93.19% of the stock is owned by institutional investors.
Equity Commonwealth (NYSE EQC) opened at 31.13 on Monday. The firm has a 50-day moving average of $31.70 and a 200 day moving average of $31.42. Equity Commonwealth has a one year low of $28.04 and a one year high of $32.51. The company has a market capitalization of $3.86 billion, a P/E ratio of 36.11 and a beta of 0.08.
Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.05. The firm had revenue of $91.60 million during the quarter, compared to the consensus estimate of $98.55 million. Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. The business’s revenue for the quarter was down 37.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, equities analysts forecast that Equity Commonwealth will post $0.19 EPS for the current fiscal year.
Several research firms recently commented on EQC. Stifel Nicolaus reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Equity Commonwealth in a report on Friday, July 28th. Zacks Investment Research downgraded shares of Equity Commonwealth from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Equity Commonwealth from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Equity Commonwealth currently has a consensus rating of “Hold” and a consensus target price of $32.75.
About Equity Commonwealth
Equity Commonwealth is an internally managed and self-advised real estate investment trust. The Company is engaged in the ownership and operation primarily of office buildings across the United States. The Company conducts its activities primarily through EQC Operating Trust (the Operating Trust). As of December 31, 2016, the Company’s portfolio included 33 properties, one land parcel and one property taken out of a service, classified as a land parcel, with a combined 16.1 million square feet.
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