American International Group Inc. reduced its stake in Equity Commonwealth (NYSE:EQC) by 10.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,249 shares of the real estate investment trust’s stock after selling 376 shares during the period. American International Group Inc.’s holdings in Equity Commonwealth were worth $101,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in 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 last quarter. Cipher Capital LP increased its stake in Equity Commonwealth by 0.8% in the first quarter. Cipher Capital LP now owns 299,334 shares of the real estate investment trust’s stock valued at $9,345,000 after buying an additional 2,455 shares during the last quarter. SG Americas Securities LLC increased its stake in Equity Commonwealth by 39.8% in the first quarter. SG Americas Securities LLC now owns 7,212 shares of the real estate investment trust’s stock valued at $225,000 after buying an additional 2,052 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Equity Commonwealth by 68.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 688,698 shares of the real estate investment trust’s stock valued at $21,501,000 after buying an additional 280,665 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Equity Commonwealth by 402.1% in the first quarter. Prudential Financial Inc. now owns 39,209 shares of the real estate investment trust’s stock valued at $1,224,000 after buying an additional 31,400 shares during the last quarter. 93.19% of the stock is owned by institutional investors and hedge funds.

Shares of Equity Commonwealth (NYSE EQC) traded down 0.6214% during midday trading on Friday, reaching $30.3701. 81,434 shares of the company’s stock were exchanged. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The company has a market capitalization of $3.77 billion, a PE ratio of 35.2321 and a beta of 0.08. The firm has a 50-day moving average of $31.54 and a 200-day moving average of $31.41.

Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Monday, July 24th. The real estate investment trust reported $0.22 EPS 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 analyst estimates of $98.55 million. Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. Equity Commonwealth’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 business earned $0.42 earnings per share. Equities analysts expect that Equity Commonwealth will post $0.19 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Equity Commonwealth (NYSE:EQC) Shares Sold by American International Group Inc.” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://www.dailypolitical.com/2017/08/11/equity-commonwealth-nyseeqc-shares-sold-by-american-international-group-inc.html.

Several research firms recently weighed in 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Equity Commonwealth presently has a consensus rating of “Hold” and a consensus price target 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.

Want to see what other hedge funds are holding EQC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Commonwealth (NYSE:EQC).

Institutional Ownership by Quarter for Equity Commonwealth (NYSE:EQC)

Receive News & Ratings for Equity Commonwealth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Commonwealth and related companies with MarketBeat.com's FREE daily email newsletter.