Citadel Advisors LLC Purchases 62,588 Shares of Equity Commonwealth (EQC)
Citadel Advisors LLC lifted its position in shares of Equity Commonwealth (NYSE:EQC) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 418,644 shares of the real estate investment trust’s stock after acquiring an additional 62,588 shares during the quarter. Citadel Advisors LLC owned approximately 0.34% of Equity Commonwealth worth $13,229,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Equity Commonwealth by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 19,879,248 shares of the real estate investment trust’s stock valued at $628,183,000 after acquiring an additional 355,826 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Equity Commonwealth by 0.7% during the 2nd quarter. BlackRock Inc. now owns 8,117,156 shares of the real estate investment trust’s stock valued at $256,504,000 after acquiring an additional 58,556 shares in the last quarter. State Street Corp boosted its holdings in shares of Equity Commonwealth by 0.7% during the 1st quarter. State Street Corp now owns 3,894,669 shares of the real estate investment trust’s stock valued at $121,591,000 after acquiring an additional 27,686 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Equity Commonwealth by 15.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,349,449 shares of the real estate investment trust’s stock valued at $105,843,000 after acquiring an additional 455,747 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Equity Commonwealth by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,376,675 shares of the real estate investment trust’s stock valued at $75,103,000 after acquiring an additional 490,700 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors.
EQC has been the topic of several recent research reports. Stifel Nicolaus reissued a “hold” rating and set a $33.00 price objective on shares of Equity Commonwealth in a report on Thursday. BidaskClub raised Equity Commonwealth from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Finally, Zacks Investment Research downgraded Equity Commonwealth from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.33.
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Shares of Equity Commonwealth (NYSE EQC) traded up 0.183% on Monday, reaching $30.115. The company had a trading volume of 83,347 shares. The company has a market capitalization of $3.74 billion, a PE ratio of 34.855 and a beta of 0.13. Equity Commonwealth has a one year low of $28.04 and a one year high of $32.51. The company’s 50-day moving average is $30.69 and its 200-day moving average is $31.31.
Equity Commonwealth (NYSE:EQC) last 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 Zacks’ consensus estimate of $0.27 by ($0.05). Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. The company had revenue of $91.60 million during the quarter, compared to the consensus estimate of $98.55 million. During the same period in the previous year, the company earned $0.42 earnings per share. Equity Commonwealth’s quarterly revenue was down 37.0% on a year-over-year basis. Equities research analysts predict that Equity Commonwealth will post $0.19 earnings per share for the current year.
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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