Zacks Investment Research lowered shares of Equity Commonwealth (NYSE:EQC) from a hold rating to a strong sell rating in a report released on Thursday morning.

According to Zacks, “Equity Commonwealth is an internally managed and self-advised real estate investment trust. It primarily owns office buildings located throughout the United States. The majority of its portfolio consists of office buildings located in central business districts, or CBDs, of major metropolitan markets. Equity Commonwealth, formerly known as CommonWealth REIT, is based in Chicago. “

Separately, BidaskClub downgraded shares of Equity Commonwealth from a sell rating to a strong sell rating in a report on Saturday, July 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $32.75.

Equity Commonwealth (NYSE:EQC) traded down 0.51% during mid-day trading on Thursday, hitting $31.43. 188,262 shares of the stock traded hands. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The company’s 50 day moving average price is $31.70 and its 200-day moving average price is $31.38. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 36.46 and a beta of 0.08.

Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $98.55 million. Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The business’s revenue was down 37.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Analysts predict that Equity Commonwealth will post $0.19 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of EQC. SG Americas Securities LLC increased its position in Equity Commonwealth by 39.8% in the first quarter. SG Americas Securities LLC now owns 7,212 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 2,052 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Equity Commonwealth by 5.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,769 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 433 shares during the last quarter. US Bancorp DE increased its position in Equity Commonwealth by 6.2% in the first quarter. US Bancorp DE now owns 9,425 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 551 shares during the last quarter. TLP Group LLC acquired a new position in Equity Commonwealth during the first quarter worth about $297,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Equity Commonwealth by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,378 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 184 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

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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