Bessemer Group Inc. Buys 330,213 Shares of Equity Commonwealth (EQC)
Bessemer Group Inc. lifted its stake in Equity Commonwealth (NYSE:EQC) by 67.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 822,182 shares of the real estate investment trust’s stock after purchasing an additional 330,213 shares during the quarter. Bessemer Group Inc. owned about 0.66% of Equity Commonwealth worth $24,994,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Equity Commonwealth by 0.8% in the 1st quarter. Principal Financial Group Inc. now owns 21,414 shares of the real estate investment trust’s stock worth $669,000 after purchasing an additional 161 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Equity Commonwealth by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,853 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 275 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Equity Commonwealth by 3.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,887 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Equity Commonwealth by 6.0% in 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 during the period. Finally, Chesley Taft & Associates LLC boosted its holdings in shares of Equity Commonwealth by 5.6% in the 2nd quarter. Chesley Taft & Associates LLC now owns 20,760 shares of the real estate investment trust’s stock worth $656,000 after purchasing an additional 1,100 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.
A number of brokerages have recently commented on EQC. Stifel Nicolaus reiterated a “hold” rating and issued a $33.00 target price on shares of Equity Commonwealth in a report on Friday, July 28th. Zacks Investment Research lowered Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 27th.
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Shares of Equity Commonwealth (NYSE:EQC) traded up $0.04 during mid-day trading on Friday, hitting $30.36. The company had a trading volume of 146,857 shares, compared to its average volume of 538,146. Equity Commonwealth has a 52-week low of $28.33 and a 52-week high of $32.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 41.39 and a quick ratio of 41.39. The company has a market cap of $3,770.00, a price-to-earnings ratio of 31.42 and a beta of 0.09.
Equity Commonwealth (NYSE:EQC) last issued its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.05). Equity Commonwealth had a return on equity of 2.00% and a net margin of 17.04%. The business had revenue of $77.80 million for the quarter, compared to the consensus estimate of $92.13 million. During the same period in the prior year, the business posted $0.23 earnings per share. Equity Commonwealth’s revenue was down 32.1% on a year-over-year basis. equities research analysts anticipate that Equity Commonwealth will post 0.85 earnings per share for the current fiscal 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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