Equity Commonwealth (NYSE:EQC) released its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.05, Bloomberg Earnings reports. 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 EPS. The business’s quarterly revenue was down 37.0% on a year-over-year basis.
Equity Commonwealth (EQC) traded down 0.39% during midday trading on Friday, hitting $30.32. 497,919 shares of the stock traded hands. The company has a 50-day moving average of $31.31 and a 200-day moving average of $31.37. The stock has a market cap of $3.76 billion, a PE ratio of 35.17 and a beta of 0.08. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51.
Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 in the last quarter. Comerica Bank bought a new stake in shares of Equity Commonwealth during the first quarter worth approximately $6,702,000. US Bancorp DE raised its stake 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 in the last quarter. First Trust Advisors LP raised its stake in shares of Equity Commonwealth by 64.5% in the first quarter. First Trust Advisors LP now owns 498,730 shares of the real estate investment trust’s stock worth $15,570,000 after buying an additional 195,541 shares in the last quarter. Finally, Heartland Advisors Inc. raised its stake in shares of Equity Commonwealth by 51.5% in the first quarter. Heartland Advisors Inc. now owns 523,606 shares of the real estate investment trust’s stock worth $16,347,000 after buying an additional 177,921 shares in the last quarter. 93.36% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Stifel Nicolaus reissued a “hold” rating and issued a $33.00 target price on shares of Equity Commonwealth in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.75.
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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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