Equity Commonwealth (EQC) Upgraded at RBC Capital Markets
Equity Commonwealth (NYSE:EQC) was upgraded by RBC Capital Markets to a “sector perform” rating in a report released on Friday.
Several other brokerages also recently commented on EQC. Zacks Investment Research downgraded Equity Commonwealth from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Citigroup Inc. increased their price objective on Equity Commonwealth from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, September 1st. Royal Bank Of Canada raised Equity Commonwealth from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $28.00 to $32.00 in a research note on Friday. Finally, Bank of America Corp. raised Equity Commonwealth from a “neutral” rating to a “buy” rating in a research note on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $32.33.
Shares of Equity Commonwealth (NYSE:EQC) opened at 30.45 on Friday. The firm has a market capitalization of $3.82 billion, a P/E ratio of 22.72 and a beta of 0.40. The firm’s 50-day moving average is $30.68 and its 200 day moving average is $29.17. Equity Commonwealth has a 12 month low of $25.23 and a 12 month high of $31.91.
Equity Commonwealth (NYSE:EQC) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The firm earned $145.37 million during the quarter, compared to the consensus estimate of $136.57 million. Equity Commonwealth had a return on equity of 6.92% and a net margin of 35.80%. The company’s quarterly revenue was down 28.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities research analysts anticipate that Equity Commonwealth will post $1.14 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in shares of Equity Commonwealth by 1,008.3% in the second quarter. Acadian Asset Management LLC now owns 3,890 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 3,539 shares during the last quarter. Creative Planning increased its stake in Equity Commonwealth by 20.2% in the second quarter. Creative Planning now owns 5,959 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 1,002 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Equity Commonwealth by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,092 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 354 shares in the last quarter. Water Island Capital LLC increased its stake in Equity Commonwealth by 44.4% in the second quarter. Water Island Capital LLC now owns 6,500 shares of the real estate investment trust’s stock worth $189,000 after buying an additional 2,000 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its stake in Equity Commonwealth by 1.9% in the first quarter. BlackRock Japan Co. Ltd now owns 6,736 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 124 shares in the last quarter. 92.54% of the stock is owned by institutional investors.
Equity Commonwealth Company Profile
Equity Commonwealth is an internally managed and self-advised real estate investment trust (REIT). The Company is engaged in the ownership and operation of office buildings throughout the United States. It operates in central business district properties and suburban properties segment. The Company’s portfolio includes approximately 60 properties (over 130 buildings) with a combined of approximately 24 million square feet.
Receive News & Stock Ratings for Equity Commonwealth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Commonwealth and related stocks with our FREE daily email newsletter.