Cornerstone Capital Management Holdings LLC. trimmed its stake in Equity Commonwealth (NYSE:EQC) by 50.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,346 shares of the real estate investment trust’s stock after selling 62,210 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Equity Commonwealth were worth $1,834,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC raised its stake in shares of Equity Commonwealth by 32.0% in the third quarter. Boothbay Fund Management LLC now owns 24,248 shares of the real estate investment trust’s stock worth $737,000 after purchasing an additional 5,885 shares during the last quarter. Gruss Capital Management LP purchased a new position in shares of Equity Commonwealth in the third quarter worth $9,728,000. Artisan Partners Limited Partnership raised its stake in shares of Equity Commonwealth by 12.9% in the third quarter. Artisan Partners Limited Partnership now owns 3,780,921 shares of the real estate investment trust’s stock worth $114,940,000 after purchasing an additional 431,472 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Equity Commonwealth by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,823,968 shares of the real estate investment trust’s stock worth $55,449,000 after purchasing an additional 50,867 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Equity Commonwealth by 7.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,461,833 shares of the real estate investment trust’s stock worth $44,440,000 after purchasing an additional 101,741 shares during the last quarter. 95.29% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on EQC shares. Zacks Investment Research cut Equity Commonwealth from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th. Stifel Nicolaus reiterated a “hold” rating and set a $31.00 price objective on shares of Equity Commonwealth in a research report on Thursday, October 26th.
Equity Commonwealth (NYSE:EQC) traded up $0.04 during midday trading on Friday, hitting $29.82. The stock had a trading volume of 625,687 shares, compared to its average volume of 458,320. Equity Commonwealth has a 1 year low of $29.48 and a 1 year high of $32.51. The company has a market capitalization of $3,695.38, a price-to-earnings ratio of 67.77 and a beta of 0.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 41.39 and a current ratio of 41.39.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $92.13 million. During the same period in the previous year, the company posted $0.23 earnings per share. Equity Commonwealth’s quarterly revenue was down 32.1% on a year-over-year basis. sell-side analysts forecast that Equity Commonwealth will post 0.9 earnings per share for the current fiscal year.
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Equity Commonwealth Company 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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