Aperio Group LLC Boosts Position in Equity Commonwealth (NYSE:EQC)
Aperio Group LLC increased its position in shares of Equity Commonwealth (NYSE:EQC) by 19.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,390 shares of the real estate investment trust’s stock after buying an additional 8,992 shares during the period. Aperio Group LLC’s holdings in Equity Commonwealth were worth $1,719,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Equity Commonwealth by 1,917.7% in the first quarter. BlackRock Inc. now owns 8,058,600 shares of the real estate investment trust’s stock worth $251,589,000 after buying an additional 7,659,208 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Equity Commonwealth during the first quarter worth $90,341,000. Victory Capital Management Inc. increased its position in Equity Commonwealth by 40.0% in the first quarter. Victory Capital Management Inc. now owns 3,573,151 shares of the real estate investment trust’s stock worth $111,554,000 after buying an additional 1,020,785 shares in the last quarter. Vanguard Group Inc. increased its position in Equity Commonwealth by 2.3% in the first quarter. Vanguard Group Inc. now owns 19,523,422 shares of the real estate investment trust’s stock worth $609,521,000 after buying an additional 437,729 shares in the last quarter. Finally, Resolution Capital Ltd increased its position in Equity Commonwealth by 13.8% in the first quarter. Resolution Capital Ltd now owns 2,516,487 shares of the real estate investment trust’s stock worth $78,565,000 after buying an additional 306,100 shares in the last quarter. 93.19% of the stock is owned by hedge funds and other institutional investors.
Equity Commonwealth (NYSE:EQC) traded down 0.179% on Thursday, reaching $30.615. 113,308 shares of the company traded hands. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 35.516 and a beta of 0.08. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The stock’s 50-day moving average is $31.57 and its 200-day moving average is $31.42.
Equity Commonwealth (NYSE:EQC) last announced its earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.05. The business had revenue of $91.60 million for the quarter, compared to the consensus estimate of $98.55 million. Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The business’s quarterly revenue was down 37.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. Equities research analysts expect that Equity Commonwealth will post $0.19 EPS for the current year.
EQC has been the subject of a number of research reports. Zacks Investment Research raised shares of Equity Commonwealth from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Monday, May 8th. BidaskClub downgraded shares of Equity Commonwealth from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $33.00 target price on shares of Equity Commonwealth in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $32.75.
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 December 31, 2016, the Company’s portfolio included 33 properties, one land parcel and one property taken out of a service, classified as a land parcel, with a combined 16.1 million square feet.
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