Equity Commonwealth (NYSE:EQC)‘s stock had its “hold” rating reaffirmed by investment analysts at Stifel Nicolaus in a report issued on Thursday. They presently have a $31.00 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 2.65% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the company. BidaskClub cut Equity Commonwealth from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Zacks Investment Research raised Equity Commonwealth from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th.
Shares of Equity Commonwealth (NYSE:EQC) opened at 30.20 on Thursday. The company’s 50-day moving average price is $30.42 and its 200 day moving average price is $31.14. Equity Commonwealth has a one year low of $28.04 and a one year high of $32.51. The stock has a market capitalization of $3.75 billion, a PE ratio of 34.95 and a beta of 0.14.
Equity Commonwealth (NYSE:EQC) last issued its earnings results 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 return on equity of 2.00% and a net margin of 17.04%. The firm had revenue of $77.80 million during the quarter, compared to the consensus estimate of $92.13 million. During the same period last year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was down 32.1% compared to the same quarter last year. Analysts anticipate that Equity Commonwealth will post $0.19 EPS for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Equity Commonwealth by 1.8% in the second quarter. Vanguard Group Inc. now owns 19,879,248 shares of the real estate investment trust’s stock worth $628,183,000 after acquiring an additional 355,826 shares in the last quarter. BlackRock Inc. grew its position in Equity Commonwealth by 0.7% in the second quarter. BlackRock Inc. now owns 8,117,156 shares of the real estate investment trust’s stock worth $256,504,000 after acquiring an additional 58,556 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Equity Commonwealth in the second quarter worth about $195,109,000. State Street Corp grew its position in Equity Commonwealth by 0.7% in the first quarter. State Street Corp now owns 3,894,669 shares of the real estate investment trust’s stock worth $121,591,000 after acquiring an additional 27,686 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in Equity Commonwealth by 15.7% in the second quarter. Artisan Partners Limited Partnership now owns 3,349,449 shares of the real estate investment trust’s stock worth $105,843,000 after acquiring an additional 455,747 shares in the last quarter. Institutional investors own 94.07% 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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