Independent Order of Foresters Has $488,000 Position in Equity Commonwealth (EQC)
Independent Order of Foresters maintained its stake in Equity Commonwealth (NYSE:EQC) during the second quarter, Holdings Channel reports. The firm owned 15,431 shares of the real estate investment trust’s stock at the end of the second quarter. Independent Order of Foresters’ holdings in Equity Commonwealth were worth $488,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Equity Commonwealth by 2.3% in the first quarter. Vanguard Group Inc. now owns 19,523,422 shares of the real estate investment trust’s stock valued at $609,521,000 after buying an additional 437,729 shares in the last quarter. BlackRock Inc. boosted its stake in Equity Commonwealth by 1,917.7% in the first quarter. BlackRock Inc. now owns 8,058,600 shares of the real estate investment trust’s stock valued at $251,589,000 after buying an additional 7,659,208 shares in the last quarter. State Street Corp boosted its stake in shares of Equity Commonwealth by 0.7% in the first quarter. State Street Corp now owns 3,894,669 shares of the real estate investment trust’s stock valued at $121,591,000 after buying an additional 27,686 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Equity Commonwealth by 40.0% in the first quarter. Victory Capital Management Inc. now owns 3,573,151 shares of the real estate investment trust’s stock valued at $111,554,000 after buying an additional 1,020,785 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Equity Commonwealth during the first quarter valued at approximately $90,341,000. 93.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of Equity Commonwealth (EQC) opened at 30.82 on Wednesday. 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 $3.82 billion, a PE ratio of 35.75 and a beta of 0.08. The stock has a 50 day moving average of $31.64 and a 200-day moving average of $31.41.
Equity Commonwealth (NYSE:EQC) last released its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.05. Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The firm had revenue of $91.60 million for the quarter, compared to the consensus estimate of $98.55 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was down 37.0% on a year-over-year basis. On average, equities analysts forecast that Equity Commonwealth will post $0.19 earnings per share for the current fiscal year.
EQC has been the topic of several analyst reports. Zacks Investment Research cut shares of Equity Commonwealth from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. BidaskClub raised shares of Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $33.00 price target on shares of Equity Commonwealth in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.75.
Equity Commonwealth Company Profile
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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