People s United Financial Inc. Continues to Hold Stake in Equity Commonwealth (EQC)
People s United Financial Inc. maintained its position in Equity Commonwealth (NYSE:EQC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,598 shares of the real estate investment trust’s stock at the close of the 2nd quarter. People s United Financial Inc.’s holdings in Equity Commonwealth were worth $366,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of EQC. Blair William & Co. IL purchased a new position in shares of Equity Commonwealth during the 2nd quarter worth approximately $202,000. SG Americas Securities LLC increased its stake in shares of 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 worth $225,000 after purchasing an additional 2,052 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 worth $260,000 after purchasing an additional 463 shares in the last quarter. US Bancorp DE increased its stake in shares of 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 worth $294,000 after purchasing an additional 551 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Equity Commonwealth during the 2nd quarter worth approximately $304,000. Institutional investors own 94.08% of the company’s stock.
A number of research analysts have recently weighed in on EQC shares. BidaskClub cut shares of Equity Commonwealth from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. Stifel Nicolaus reissued a “hold” rating and set a $33.00 price objective on shares of Equity Commonwealth in a research note on Friday, July 28th. Finally, Zacks Investment Research cut shares of Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 27th.
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Equity Commonwealth (NYSE:EQC) opened at 30.50 on Friday. Equity Commonwealth has a 52 week low of $28.04 and a 52 week high of $32.51. The stock has a market capitalization of $3.78 billion, a PE ratio of 35.30 and a beta of 0.14. The stock’s 50 day moving average is $30.51 and its 200-day moving average is $31.25.
Equity Commonwealth (NYSE:EQC) last released its earnings results on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.05). Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The business had revenue of $91.60 million for the quarter, compared to analyst estimates of $98.55 million. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was down 37.0% on a year-over-year basis. Equities research analysts forecast that Equity Commonwealth will post $0.19 EPS 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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