Janus Capital Management LLC reduced its stake in shares of Equity Commonwealth (NYSE:EQC) by 70.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,600 shares of the real estate investment trust’s stock after selling 20,800 shares during the period. Janus Capital Management LLC’s holdings in Equity Commonwealth were worth $268,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of EQC. BlackRock Inc. increased its stake in shares of 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 valued at $251,589,000 after buying an additional 7,659,208 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Equity Commonwealth during the first quarter valued at approximately $90,341,000. Norges Bank acquired a new position in shares of Equity Commonwealth during the fourth quarter valued at $36,835,000. Victory Capital Management Inc. boosted its position in shares of 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 valued at $111,554,000 after buying an additional 1,020,785 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of 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 valued at $609,521,000 after buying an additional 437,729 shares during the last quarter. Institutional investors own 93.36% of the company’s stock.
Equity Commonwealth (NYSE EQC) traded down 0.39% during midday trading on Friday, hitting $30.32. 497,919 shares of the company were exchanged. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The stock has a 50 day moving average of $31.31 and a 200-day moving average of $31.37. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 35.17 and a beta of 0.08.
Equity Commonwealth (NYSE:EQC) last issued its earnings results on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.05. Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. The firm had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $98.55 million. During the same period last year, the firm earned $0.42 earnings per share. Equity Commonwealth’s revenue for the quarter was down 37.0% on a year-over-year basis. Equities analysts expect that Equity Commonwealth will post $0.19 earnings per share for the current year.
Several equities analysts recently weighed in on EQC shares. Zacks Investment Research raised shares of Equity Commonwealth from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Monday, May 8th. BidaskClub raised shares of Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. 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 and three have assigned a hold rating to the company’s stock. Equity Commonwealth has an average rating of “Hold” and a consensus target price of $32.75.
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 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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