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

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 research firms have also recently commented on EQC. Stifel Nicolaus cut shares of Equity Commonwealth from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a research note on Wednesday, August 1st. They noted that the move was a valuation call. ValuEngine raised shares of Equity Commonwealth from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Citigroup raised their target price on shares of Equity Commonwealth from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Finally, TheStreet cut shares of Equity Commonwealth from a “b-” rating to a “c+” rating in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.75.

Equity Commonwealth stock traded up $0.07 during trading hours on Monday, hitting $30.94. 517,600 shares of the company traded hands, compared to its average volume of 715,298. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 33.63 and a beta of 0.17. The company has a current ratio of 63.60, a quick ratio of 63.60 and a debt-to-equity ratio of 0.09. Equity Commonwealth has a 1-year low of $27.96 and a 1-year high of $32.66.

Equity Commonwealth (NYSE:EQC) last released its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The firm had revenue of $46.87 million for the quarter, compared to analysts’ expectations of $48.78 million. Equity Commonwealth had a net margin of 104.48% and a return on equity of 7.35%. Research analysts expect that Equity Commonwealth will post 0.65 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in EQC. BlackRock Inc. grew its stake in shares of Equity Commonwealth by 34.6% in the 3rd quarter. BlackRock Inc. now owns 8,622,374 shares of the real estate investment trust’s stock worth $276,690,000 after purchasing an additional 2,214,889 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Equity Commonwealth by 122.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,105,466 shares of the real estate investment trust’s stock worth $34,822,000 after purchasing an additional 608,693 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Equity Commonwealth in the 3rd quarter worth approximately $17,111,000. Resolution Capital Ltd grew its stake in shares of Equity Commonwealth by 23.9% in the 2nd quarter. Resolution Capital Ltd now owns 2,288,415 shares of the real estate investment trust’s stock worth $72,085,000 after purchasing an additional 441,300 shares during the last quarter. Finally, Talara Capital Management LLC acquired a new position in shares of Equity Commonwealth in the 3rd quarter worth approximately $12,889,000. 97.82% of the stock is currently owned by institutional investors.

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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