Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Equity Commonwealth (NYSE:EQC) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,908 shares of the real estate investment trust’s stock after acquiring an additional 3,099 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equity Commonwealth were worth $1,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ellevest Inc. purchased a new position in Equity Commonwealth in the 1st quarter worth approximately $26,000. Wealth Quarterback LLC purchased a new position in Equity Commonwealth in the 4th quarter worth approximately $36,000. Huntington National Bank purchased a new position in Equity Commonwealth in the 4th quarter worth approximately $49,000. Advisory Services Network LLC boosted its holdings in Equity Commonwealth by 26.6% in the 4th quarter. Advisory Services Network LLC now owns 2,574 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 541 shares during the period. Finally, Fieldpoint Private Securities LLC boosted its holdings in Equity Commonwealth by 167.5% in the 4th quarter. Fieldpoint Private Securities LLC now owns 3,734 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 2,338 shares during the period. Hedge funds and other institutional investors own 92.46% of the company’s stock.

NYSE:EQC opened at $32.92 on Friday. The business’s 50-day moving average price is $33.17 and its 200 day moving average price is $32.42. The firm has a market cap of $4.00 billion, a P/E ratio of 5.91 and a beta of 0.29. Equity Commonwealth has a 52-week low of $27.62 and a 52-week high of $35.08. The company has a quick ratio of 129.65, a current ratio of 129.65 and a debt-to-equity ratio of 0.01.

Equity Commonwealth (NYSE:EQC) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $3.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $3.25. Equity Commonwealth had a return on equity of 21.30% and a net margin of 673.78%. The business had revenue of $18.80 million during the quarter, compared to analyst estimates of $27.45 million. During the same quarter last year, the company posted $0.19 EPS. Equity Commonwealth’s revenue for the quarter was down 54.9% on a year-over-year basis. Sell-side analysts expect that Equity Commonwealth will post 0.4 EPS for the current year.

In other news, Director Gerald A. Spector purchased 100,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average cost of $28.84 per share, with a total value of $2,884,000.00. Following the purchase, the director now directly owns 26,215 shares of the company’s stock, valued at $756,040.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

EQC has been the subject of several research analyst reports. Zacks Investment Research upgraded Equity Commonwealth from a “sell” rating to a “hold” rating in a research note on Wednesday, March 4th. TheStreet upgraded Equity Commonwealth from a “c+” rating to a “b” rating in a research note on Monday, May 4th. Finally, Citigroup increased their target price on Equity Commonwealth from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, April 7th. Four equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of $35.00.

About Equity Commonwealth

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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Institutional Ownership by Quarter for Equity Commonwealth (NYSE:EQC)

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