Public Employees Retirement Association of Colorado cut its stake in shares of Equity Commonwealth (NYSE:EQC) by 17.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 20,245 shares of the real estate investment trust’s stock after selling 4,284 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Equity Commonwealth were worth $662,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of EQC. Norges Bank bought a new position in shares of Equity Commonwealth in the fourth quarter worth approximately $40,047,000. APG Asset Management N.V. bought a new position in shares of Equity Commonwealth in the fourth quarter worth approximately $22,482,000. Bessemer Group Inc. increased its position in shares of Equity Commonwealth by 64.8% in the fourth quarter. Bessemer Group Inc. now owns 1,316,639 shares of the real estate investment trust’s stock worth $39,512,000 after purchasing an additional 517,578 shares during the last quarter. Vanguard Group Inc increased its position in shares of Equity Commonwealth by 2.4% in the third quarter. Vanguard Group Inc now owns 18,189,989 shares of the real estate investment trust’s stock worth $583,717,000 after purchasing an additional 419,945 shares during the last quarter. Finally, St. James Investment Company LLC bought a new position in shares of Equity Commonwealth in the fourth quarter worth approximately $11,397,000. Institutional investors own 96.80% of the company’s stock.
EQC has been the topic of a number of recent research reports. TheStreet upgraded shares of Equity Commonwealth from a “c+” rating to a “b” rating in a research report on Tuesday, April 30th. Zacks Investment Research upgraded shares of Equity Commonwealth from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Equity Commonwealth presently has a consensus rating of “Buy” and a consensus price target of $34.00.
In other news, CFO Adam Scott Markman sold 12,500 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $31.96, for a total transaction of $399,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Lloyd Lozier, Jr. sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $32.46, for a total value of $194,760.00. Following the sale, the director now directly owns 11,984 shares of the company’s stock, valued at approximately $389,000.64. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Shares of NYSE EQC opened at $31.97 on Thursday. Equity Commonwealth has a one year low of $28.48 and a one year high of $33.77. The company has a current ratio of 73.38, a quick ratio of 73.38 and a debt-to-equity ratio of 0.08. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 46.33 and a beta of 0.31.
Equity Commonwealth (NYSE:EQC) last issued its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $41.75 million for the quarter, compared to analysts’ expectations of $36.17 million. Equity Commonwealth had a net margin of 164.13% and a return on equity of 9.31%. The business’s quarterly revenue was down 28.7% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. As a group, sell-side analysts predict that Equity Commonwealth will post 0.6 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 December 31, 2018, EQC's portfolio comprised 10 properties and 5.1 million square feet.
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