Equity Commonwealth (EQC) Position Lowered by Boston Partners
Boston Partners decreased its holdings in Equity Commonwealth (NYSE:EQC) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 488,910 shares of the real estate investment trust’s stock after selling 40,110 shares during the quarter. Boston Partners owned approximately 0.39% of Equity Commonwealth worth $14,863,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Equity Commonwealth in the second quarter worth about $304,000. Prudential PLC acquired a new position in shares of Equity Commonwealth in the second quarter worth about $329,000. Prudential Financial Inc. lifted its stake in shares of 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 worth $1,224,000 after acquiring an additional 31,400 shares in the last quarter. Micawber Capital LLC acquired a new position in shares of Equity Commonwealth in the second quarter worth about $1,037,000. Finally, Martingale Asset Management L P lifted its stake in shares of Equity Commonwealth by 1,171.6% in 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 acquiring an additional 502,693 shares in the last quarter. Institutional investors and hedge funds own 93.36% of the company’s stock.
Shares of Equity Commonwealth (EQC) opened at $30.45 on Wednesday. Equity Commonwealth has a one year low of $28.60 and a one year high of $32.51. The stock has a market capitalization of $3,795.90, a P/E ratio of 31.54 and a beta of 0.09. The company has a current ratio of 41.39, a quick ratio of 41.39 and a debt-to-equity ratio of 0.27.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.05). Equity Commonwealth had a net margin of 17.04% and a return on equity of 2.00%. The firm had revenue of $77.80 million for the quarter, compared to analyst estimates of $92.13 million. During the same quarter in the previous year, the company earned $0.23 EPS. The company’s quarterly revenue was down 32.1% compared to the same quarter last year. equities research analysts expect that Equity Commonwealth will post 0.85 EPS for the current fiscal year.
Several research firms recently commented on EQC. Stifel Nicolaus reiterated a “hold” rating and issued a $31.00 price target on shares of Equity Commonwealth in a research note on Thursday, October 26th. Zacks Investment Research cut Equity Commonwealth from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th.
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Equity Commonwealth 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 August 14, 2017, the Company’s portfolio included 20 properties and 11 million square feet.
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