Equity Commonwealth (EQC) Holdings Increased by New Mountain Vantage Advisers L.L.C.
New Mountain Vantage Advisers L.L.C. raised its holdings in shares of Equity Commonwealth (NYSE:EQC) by 8.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,386,413 shares of the real estate investment trust’s stock after acquiring an additional 103,238 shares during the period. Equity Commonwealth makes up 3.2% of New Mountain Vantage Advisers L.L.C.’s holdings, making the stock its 6th largest position. New Mountain Vantage Advisers L.L.C. owned approximately 1.12% of Equity Commonwealth worth $43,811,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Blair William & Co. IL bought a new stake in Equity Commonwealth during the 2nd quarter valued at $202,000. SG Americas Securities LLC raised its stake in Equity Commonwealth by 39.8% during the 1st quarter. SG Americas Securities LLC now owns 7,212 shares of the real estate investment trust’s stock valued at $225,000 after acquiring an additional 2,052 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Equity Commonwealth by 6.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,232 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 463 shares in the last quarter. US Bancorp DE raised its stake in Equity Commonwealth by 6.2% during the 1st quarter. US Bancorp DE now owns 9,425 shares of the real estate investment trust’s stock valued at $294,000 after acquiring an additional 551 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Equity Commonwealth during the 2nd quarter valued at $304,000. 94.08% of the stock is currently owned by hedge funds and other institutional investors.
Equity Commonwealth (NYSE EQC) traded down 0.990% during mid-day trading on Friday, hitting $30.495. The stock had a trading volume of 171,242 shares. The firm has a market cap of $3.78 billion, a P/E ratio of 35.295 and a beta of 0.14. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The stock has a 50 day moving average of $30.51 and a 200-day moving average of $31.25.
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 Zacks’ consensus estimate of $0.27 by ($0.05). The firm had revenue of $91.60 million during 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 firm’s quarterly revenue was down 37.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. Analysts predict that Equity Commonwealth will post $0.19 EPS for the current fiscal year.
Several brokerages have weighed in on EQC. BidaskClub downgraded Equity Commonwealth from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. Stifel Nicolaus reaffirmed a “hold” rating and set a $33.00 target price on shares of Equity Commonwealth in a research note on Friday, July 28th. Finally, Zacks Investment Research raised Equity Commonwealth from a “strong sell” rating to a “hold” rating in a research note on Wednesday.
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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