State of New Jersey Common Pension Fund D maintained its stake in Equity Commonwealth (NYSE:EQC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,000 shares of the real estate investment trust’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Equity Commonwealth were worth $6,952,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in EQC. SG Americas Securities LLC raised its stake in shares of 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 valued at $225,000 after buying an additional 2,052 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 valued at $243,000 after buying an additional 433 shares in the last quarter. US Bancorp DE raised its stake in shares of 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 valued at $294,000 after buying an additional 551 shares in the last quarter. TLP Group LLC acquired a new stake in shares of Equity Commonwealth during the first quarter valued at about $297,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Equity Commonwealth by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,378 shares of the real estate investment trust’s stock valued at $314,000 after buying an additional 184 shares in the last quarter. 93.19% of the stock is owned by institutional investors and hedge funds.
Equity Commonwealth (NYSE EQC) opened at 30.45 on Friday. The stock’s 50 day moving average price is $31.51 and its 200 day moving average price is $31.40. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The company has a market cap of $3.78 billion, a P/E ratio of 35.32 and a beta of 0.08.
Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings data on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $98.55 million. Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The firm’s revenue was down 37.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. On average, equities analysts anticipate that Equity Commonwealth will post $0.19 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on EQC. Zacks Investment Research lowered Equity Commonwealth from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. BidaskClub raised Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $33.00 target price on shares of Equity Commonwealth in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company 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 December 31, 2016, the Company’s portfolio included 33 properties, one land parcel and one property taken out of a service, classified as a land parcel, with a combined 16.1 million square feet.
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