Equity Commonwealth (EQC) Shares Sold by Wagner Bowman Management Corp
Wagner Bowman Management Corp decreased its position in shares of Equity Commonwealth (NYSE:EQC) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,568 shares of the real estate investment trust’s stock after selling 275 shares during the period. Wagner Bowman Management Corp’s holdings in Equity Commonwealth were worth $278,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. increased its position in Equity Commonwealth by 4.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 75,040 shares of the real estate investment trust’s stock worth $2,081,000 after buying an additional 3,500 shares during the period. Aperio Group LLC increased its position in Equity Commonwealth by 21.8% in the first quarter. Aperio Group LLC now owns 31,408 shares of the real estate investment trust’s stock worth $886,000 after buying an additional 5,626 shares during the period. Nisa Investment Advisors L.L.C. increased its position in Equity Commonwealth by 63.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,300 shares of the real estate investment trust’s stock worth $460,000 after buying an additional 6,300 shares during the period. Virginia Retirement System bought a new position in Equity Commonwealth during the first quarter worth about $2,472,000. Finally, Prudential Financial Inc. increased its position in Equity Commonwealth by 50.1% in the first quarter. Prudential Financial Inc. now owns 710,309 shares of the real estate investment trust’s stock worth $20,045,000 after buying an additional 237,200 shares during the period. Institutional investors and hedge funds own 92.54% of the company’s stock.
Equity Commonwealth (NYSE:EQC) traded up 1.41% during midday trading on Wednesday, hitting $30.83. 890,100 shares of the company were exchanged. The stock has a 50 day moving average of $30.50 and a 200-day moving average of $29.03. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 23.01 and a beta of 0.40. Equity Commonwealth has a 1-year low of $25.23 and a 1-year high of $31.91.
Equity Commonwealth (NYSE:EQC) last posted its earnings results on Thursday, July 28th. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.12. The company earned $145.37 million during the quarter, compared to analyst estimates of $136.57 million. Equity Commonwealth had a net margin of 35.80% and a return on equity of 6.92%. Equity Commonwealth’s revenue for the quarter was down 28.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. Equities analysts expect that Equity Commonwealth will post $1.14 earnings per share for the current year.
EQC has been the subject of a number of analyst reports. Zacks Investment Research upgraded Equity Commonwealth from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, July 5th. Bank of America Corp. upgraded Equity Commonwealth from a “neutral” rating to a “buy” rating in a research note on Monday, August 15th. Finally, Citigroup Inc. boosted their target price on Equity Commonwealth from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.50.
Equity Commonwealth Company Profile
Equity Commonwealth is an internally managed and self-advised real estate investment trust (REIT). The Company is engaged in the ownership and operation of office buildings throughout the United States. It operates in central business district properties and suburban properties segment. The Company’s portfolio includes approximately 60 properties (over 130 buildings) with a combined of approximately 24 million square feet.
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