Equity Commonwealth (NYSE:EQC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Equity Commonwealth is an internally managed and self-advised real estate investment trust. It primarily owns office buildings located throughout the United States. The majority of its portfolio consists of office buildings located in central business districts, or CBDs, of major metropolitan markets. Equity Commonwealth, formerly known as CommonWealth REIT, is based in Chicago. “

Several other brokerages have also recently commented on EQC. BidaskClub raised shares of Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Stifel Nicolaus reaffirmed a “hold” rating and set a $33.00 price objective on shares of Equity Commonwealth in a research note on Friday, July 28th.

Shares of Equity Commonwealth (EQC) opened at 30.80 on Wednesday. The stock’s 50 day moving average is $30.51 and its 200-day moving average is $31.25. Equity Commonwealth has a one year low of $28.04 and a one year high of $32.51. The company has a market cap of $3.82 billion, a P/E ratio of 35.65 and a beta of 0.14.

Equity Commonwealth (NYSE:EQC) last posted its earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.05). The business 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%. Equity Commonwealth’s revenue for the quarter was down 37.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. Equities research analysts forecast that Equity Commonwealth will post $0.19 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in EQC. The Manufacturers Life Insurance Company lifted its position in Equity Commonwealth by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 3,853 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 275 shares during the last quarter. Blair William & Co. IL bought a new stake in Equity Commonwealth during the second quarter valued at approximately $202,000. SG Americas Securities LLC lifted its position in Equity Commonwealth by 39.8% during 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 purchasing an additional 2,052 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Equity Commonwealth by 6.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,232 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 463 shares during the last quarter. Finally, US Bancorp DE lifted its position in Equity Commonwealth by 6.2% during the first quarter. US Bancorp DE now owns 9,425 shares of the real estate investment trust’s stock valued at $294,000 after purchasing an additional 551 shares during the last quarter. Institutional investors and hedge funds own 94.08% of the company’s stock.

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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