Honeywell International Inc. purchased a new stake in shares of Equity Commonwealth (NYSE:EQC) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 39,640 shares of the real estate investment trust’s stock, valued at approximately $1,253,000.
Several other institutional investors also recently modified their holdings of EQC. SG Americas Securities LLC boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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 bought a new position in shares of Equity Commonwealth during the first quarter worth about $297,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of 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. 93.36% of the stock is owned by institutional investors and hedge funds.
Equity Commonwealth (NYSE:EQC) traded down 0.39% during midday trading on Friday, reaching $30.32. The company had a trading volume of 497,919 shares. The firm has a 50-day moving average of $31.31 and a 200-day moving average of $31.37. Equity Commonwealth has a 12 month low of $28.04 and a 12 month high of $32.51. The stock has a market cap of $3.76 billion, a P/E ratio of 35.17 and a beta of 0.08.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.27 by $0.05. Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $98.55 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was down 37.0% on a year-over-year basis. On average, equities analysts expect that Equity Commonwealth will post $0.19 EPS for the current fiscal year.
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A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Equity Commonwealth from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Monday, May 8th. BidaskClub raised Equity Commonwealth from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $33.00 price target on shares of Equity Commonwealth in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Equity Commonwealth currently has an average rating of “Hold” and a consensus target price 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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