First Quadrant L P CA increased its position in shares of Equity Commonwealth (NYSE:EQC) by 347.5% in the second quarter, Holdings Channel.com reports. The firm owned 121,571 shares of the real estate investment trust’s stock after purchasing an additional 94,404 shares during the quarter. First Quadrant L P CA’s holdings in Equity Commonwealth were worth $3,953,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new position in shares of Equity Commonwealth in the 4th quarter worth about $3,511,000. Norges Bank bought a new position in shares of Equity Commonwealth in the 4th quarter worth about $40,047,000. Virtu Financial LLC bought a new position in shares of Equity Commonwealth in the 1st quarter worth about $310,000. Nisa Investment Advisors LLC raised its position in shares of Equity Commonwealth by 46.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,875 shares of the real estate investment trust’s stock worth $584,000 after acquiring an additional 5,675 shares in the last quarter. Finally, Investors Research Corp bought a new position in shares of Equity Commonwealth in the 1st quarter worth about $191,000. 96.68% of the stock is owned by hedge funds and other institutional investors.
Shares of EQC traded up $0.04 during trading hours on Friday, hitting $33.99. The stock had a trading volume of 311,530 shares, compared to its average volume of 390,478. The company has a quick ratio of 73.38, a current ratio of 73.38 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $33.15. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 49.26 and a beta of 0.25. Equity Commonwealth has a 1-year low of $28.48 and a 1-year high of $34.19.
Several research firms have recently weighed in on EQC. TheStreet raised Equity Commonwealth from a “c+” rating to a “b” rating in a research report on Tuesday, April 30th. Zacks Investment Research raised Equity Commonwealth from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective for the company in a research report on Tuesday, July 23rd.
In other news, CFO Adam Scott Markman sold 12,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $31.96, for a total value of $399,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.
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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