Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Equity Commonwealth (NYSE:EQC) by 314.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,490 shares of the real estate investment trust’s stock after purchasing an additional 24,650 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equity Commonwealth were worth $1,043,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nuance Investments LLC raised its holdings in Equity Commonwealth by 11.7% in the third quarter. Nuance Investments LLC now owns 2,480,926 shares of the real estate investment trust’s stock valued at $79,534,000 after acquiring an additional 260,587 shares in the last quarter. Ffcm LLC raised its holdings in Equity Commonwealth by 1,516.1% in the third quarter. Ffcm LLC now owns 20,217 shares of the real estate investment trust’s stock valued at $648,000 after acquiring an additional 18,966 shares in the last quarter. BlackRock Inc. raised its holdings in Equity Commonwealth by 34.6% in the third quarter. BlackRock Inc. now owns 8,622,374 shares of the real estate investment trust’s stock valued at $276,690,000 after acquiring an additional 2,214,889 shares in the last quarter. Martingale Asset Management L P acquired a new stake in Equity Commonwealth in the third quarter valued at approximately $2,607,000. Finally, San Francisco Sentry Investment Group CA acquired a new stake in Equity Commonwealth in the third quarter valued at approximately $131,000. 97.16% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. 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 report on Thursday, August 9th. ValuEngine raised shares of Equity Commonwealth from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research raised shares of Equity Commonwealth from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. Finally, TheStreet cut shares of Equity Commonwealth from a “b-” rating to a “c+” rating in a report on Wednesday, October 17th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Equity Commonwealth presently has a consensus rating of “Hold” and a consensus target price of $33.75.
Shares of Equity Commonwealth stock opened at $31.74 on Thursday. The firm has a market capitalization of $3.86 billion, a PE ratio of 34.50 and a beta of 0.19. Equity Commonwealth has a 12 month low of $27.96 and a 12 month high of $32.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 63.60 and a current ratio of 63.60.
Equity Commonwealth (NYSE:EQC) last announced its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The business 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%. As a group, equities research analysts expect that Equity Commonwealth will post 0.65 EPS for the current fiscal year.
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Equity Commonwealth Profile
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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