Equity Commonwealth (EQC) Upgraded by Stifel Nicolaus to Buy

Stifel Nicolaus upgraded shares of Equity Commonwealth (NYSE:EQC) from a hold rating to a buy rating in a research note issued to investors on Friday morning. Stifel Nicolaus currently has $32.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $31.00.

Separately, Zacks Investment Research raised Equity Commonwealth from a sell rating to a hold rating in a report on Tuesday, December 26th.

Equity Commonwealth (EQC) traded up $0.67 during trading on Friday, hitting $29.62. The company’s stock had a trading volume of 784,247 shares, compared to its average volume of 826,210. The company has a market cap of $3,602.19, a price-to-earnings ratio of 174.24 and a beta of 0.03. Equity Commonwealth has a twelve month low of $27.96 and a twelve month high of $32.51. The company has a current ratio of 41.39, a quick ratio of 41.39 and a debt-to-equity ratio of 0.27.

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. increased its holdings in shares of Equity Commonwealth by 15,236.0% in the 4th 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 in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Equity Commonwealth by 7.7% in the 2nd 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Equity Commonwealth in the 3rd quarter worth $213,000. Millennium Management LLC bought a new stake in shares of Equity Commonwealth in the 4th quarter worth $232,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Equity Commonwealth in the 3rd quarter worth $240,000. 94.81% of the stock is owned by institutional investors and hedge funds.

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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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