Artisan Partners Limited Partnership Boosts Position in Equity Commonwealth (EQC)
Artisan Partners Limited Partnership increased its position in shares of Equity Commonwealth (NYSE:EQC) by 15.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,349,449 shares of the real estate investment trust’s stock after buying an additional 455,747 shares during the quarter. Artisan Partners Limited Partnership owned 2.70% of Equity Commonwealth worth $105,843,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of EQC. BlackRock Inc. grew its holdings in shares of Equity Commonwealth by 1,917.7% during the first quarter. BlackRock Inc. now owns 8,058,600 shares of the real estate investment trust’s stock worth $251,589,000 after buying an additional 7,659,208 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Equity Commonwealth by 40.0% during the first quarter. Victory Capital Management Inc. now owns 3,573,151 shares of the real estate investment trust’s stock worth $111,554,000 after buying an additional 1,020,785 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of Equity Commonwealth by 1,171.6% during the second quarter. Martingale Asset Management L P now owns 545,599 shares of the real estate investment trust’s stock worth $17,242,000 after buying an additional 502,693 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Equity Commonwealth by 2.3% during the first quarter. Vanguard Group Inc. now owns 19,523,422 shares of the real estate investment trust’s stock worth $609,521,000 after buying an additional 437,729 shares in the last quarter. Finally, AXA bought a new position in shares of Equity Commonwealth during the first quarter worth about $8,824,000. Institutional investors and hedge funds own 93.96% of the company’s stock.
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A number of research firms recently issued reports on EQC. BidaskClub upgraded Equity Commonwealth from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Stifel Nicolaus restated a “hold” rating and issued a $33.00 price target on shares of Equity Commonwealth in a research note on Friday, July 28th. Finally, Zacks Investment Research downgraded Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.33.
Equity Commonwealth (NYSE EQC) traded down 0.13% on Tuesday, reaching $30.36. The company’s stock had a trading volume of 43,687 shares. Equity Commonwealth has a 52-week low of $28.04 and a 52-week high of $32.51. The firm’s 50-day moving average price is $30.73 and its 200 day moving average price is $31.32. The company has a market cap of $3.77 billion, a P/E ratio of 35.22 and a beta of 0.13.
Equity Commonwealth (NYSE:EQC) last issued its quarterly earnings data on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.05). The company had revenue of $91.60 million during the quarter, compared to analysts’ expectations 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 period last year, the company earned $0.42 earnings per share. Equities analysts anticipate that Equity Commonwealth will post $0.19 EPS for the current fiscal year.
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 August 14, 2017, the Company’s portfolio included 20 properties and 11 million square feet.
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