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

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. “

A number of other research analysts have also commented on the company. Stifel Nicolaus lowered Equity Commonwealth from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a report on Wednesday, August 1st. They noted that the move was a valuation call. Citigroup upped their price target on Equity Commonwealth from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Finally, ValuEngine upgraded Equity Commonwealth from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.75.

EQC opened at $29.37 on Tuesday. Equity Commonwealth has a twelve month low of $27.96 and a twelve month high of $32.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 63.57 and a quick ratio of 63.57. The company has a market capitalization of $3.90 billion, a P/E ratio of 31.92 and a beta of 0.28.

Equity Commonwealth (NYSE:EQC) last posted its earnings results on Monday, July 30th. The real estate investment trust reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Equity Commonwealth had a return on equity of 7.27% and a net margin of 92.07%. The firm had revenue of $48.60 million during the quarter, compared to analyst estimates of $59.06 million. During the same period in the previous year, the company earned $0.22 EPS. The company’s revenue for the quarter was down 46.9% on a year-over-year basis. Equities analysts expect that Equity Commonwealth will post 0.68 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in shares of Equity Commonwealth during the second quarter worth approximately $116,000. GSA Capital Partners LLP raised its stake in shares of Equity Commonwealth by 56.7% in the second quarter. GSA Capital Partners LLP now owns 11,807 shares of the real estate investment trust’s stock valued at $372,000 after purchasing an additional 4,270 shares in the last quarter. Heartland Advisors Inc. raised its stake in shares of Equity Commonwealth by 1.7% in the second quarter. Heartland Advisors Inc. now owns 293,144 shares of the real estate investment trust’s stock valued at $9,234,000 after purchasing an additional 4,933 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Equity Commonwealth by 20.0% in the second quarter. Nisa Investment Advisors LLC now owns 30,000 shares of the real estate investment trust’s stock valued at $945,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Equity Commonwealth in the second quarter valued at $177,000. Institutional investors own 98.32% of the company’s stock.

About Equity Commonwealth

Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. As of June 30, 2018, EQC's portfolio comprised 13 properties and 6.3 million square feet.

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