Equity Commonwealth (EQC) Holdings Cut by Quinn Opportunity Partners LLC
Quinn Opportunity Partners LLC lowered its stake in shares of Equity Commonwealth (NYSE:EQC) by 23.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 21,400 shares of the real estate investment trust’s stock after selling 6,600 shares during the period. Quinn Opportunity Partners LLC’s holdings in Equity Commonwealth were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Assetmark Inc. boosted its position in Equity Commonwealth by 15,236.0% during the fourth quarter. Assetmark Inc. now owns 3,834 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 3,809 shares during the period. The Manufacturers Life Insurance Company boosted 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 worth $122,000 after purchasing an additional 275 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Equity Commonwealth during the third quarter worth approximately $213,000. Fox Run Management L.L.C. bought a new stake in Equity Commonwealth during the third quarter worth approximately $240,000. Finally, SG Americas Securities LLC boosted its position in Equity Commonwealth by 33.7% during the third quarter. SG Americas Securities LLC now owns 9,087 shares of the real estate investment trust’s stock worth $276,000 after purchasing an additional 2,292 shares during the period. 96.27% of the stock is owned by hedge funds and other institutional investors.
EQC has been the subject of a number of recent analyst reports. Zacks Investment Research cut Equity Commonwealth from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. Stifel Nicolaus raised Equity Commonwealth from a “hold” rating to a “buy” rating and upped their target price for the stock from $31.00 to $32.00 in a research report on Friday, February 16th.
Equity Commonwealth (NYSE:EQC) last announced its earnings results on Wednesday, February 14th. The real estate investment trust reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.40). The company had revenue of $71.62 million for the quarter, compared to the consensus estimate of $78.03 million. Equity Commonwealth had a return on equity of 0.93% and a net margin of 8.71%. equities analysts forecast that Equity Commonwealth will post 0.68 EPS for the current fiscal year.
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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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