Heartland Advisors Inc. Buys 171,569 Shares of Equity Commonwealth (EQC)
Heartland Advisors Inc. increased its position in shares of Equity Commonwealth (NYSE:EQC) by 32.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 695,175 shares of the real estate investment trust’s stock after buying an additional 171,569 shares during the period. Equity Commonwealth comprises approximately 1.4% of Heartland Advisors Inc.’s portfolio, making the stock its 6th largest position. Heartland Advisors Inc. owned 0.56% of Equity Commonwealth worth $21,968,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQC. Blair William & Co. IL bought a new position in Equity Commonwealth during the second quarter worth about $202,000. SG Americas Securities LLC raised 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 raised 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 raised 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. Finally, TLP Group LLC bought a new position in Equity Commonwealth during the first quarter worth about $297,000. Institutional investors and hedge funds own 94.46% of the company’s stock.
Equity Commonwealth (NYSE:EQC) traded up 0.69% on Thursday, reaching $30.63. The company had a trading volume of 28,318 shares. Equity Commonwealth has a one year low of $28.04 and a one year high of $32.51. The company has a 50-day moving average of $31.14 and a 200 day moving average of $31.36. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 35.53 and a beta of 0.08.
Equity Commonwealth (NYSE:EQC) last issued its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.05. The firm had revenue of $91.60 million for the quarter, compared to the consensus estimate 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 period last year, the company posted $0.42 EPS. On average, equities research analysts predict that Equity Commonwealth will post $0.19 EPS for the current year.
A number of research analysts recently issued reports on EQC shares. Zacks Investment Research upgraded Equity Commonwealth from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Monday, May 8th. Stifel Nicolaus restated a “hold” rating and set a $33.00 price objective on shares of Equity Commonwealth in a research report on Friday, July 28th. Finally, BidaskClub upgraded Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Equity Commonwealth currently has a consensus 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 August 14, 2017, the Company’s portfolio included 20 properties and 11 million square feet.
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