Rhumbline Advisers Has $4.79 Million Position in Equity Commonwealth (EQC)
Rhumbline Advisers cut its position in Equity Commonwealth (NYSE:EQC) by 7.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 151,605 shares of the real estate investment trust’s stock after selling 12,291 shares during the period. Rhumbline Advisers owned about 0.12% of Equity Commonwealth worth $4,791,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of EQC. SG Americas Securities LLC boosted 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 in the last quarter. US Bancorp DE boosted 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 in the last quarter. TLP Group LLC acquired a new position in Equity Commonwealth during the first quarter worth approximately $297,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Equity Commonwealth during the second quarter worth approximately $304,000. 94.46% of the stock is currently owned by institutional investors.
Shares of Equity Commonwealth (NYSE:EQC) opened at 30.86 on Friday. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The company has a market cap of $3.83 billion, a P/E ratio of 35.80 and a beta of 0.13. The firm has a 50-day moving average price of $31.03 and a 200-day moving average price of $31.35.
Equity Commonwealth (NYSE:EQC) last released its earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.05. The firm had revenue of $91.60 million during 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 quarter last year, the business earned $0.42 EPS. On average, equities analysts expect that Equity Commonwealth will post $0.19 EPS for the current year.
A number of research firms recently commented on EQC. Zacks Investment Research cut Equity Commonwealth from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Equity Commonwealth in a research note on Friday, July 28th. Finally, BidaskClub raised Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.33.
Equity Commonwealth Company Profile
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 August 14, 2017, the Company’s portfolio included 20 properties and 11 million square feet.
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