Equity Commonwealth (NYSE:EQC) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $32.00.
Several research analysts recently commented on EQC shares. Zacks Investment Research lowered shares of Equity Commonwealth from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. BidaskClub lowered shares of Equity Commonwealth from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $33.00 price target on shares of Equity Commonwealth in a report on Friday, July 28th.
A number of hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY increased 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 during the period. UBS Asset Management Americas Inc. increased its stake in shares of Equity Commonwealth by 69.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 415,285 shares of the real estate investment trust’s stock valued at $12,558,000 after buying an additional 170,767 shares during the period. Teachers Advisors LLC increased its stake in shares of Equity Commonwealth by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 921,736 shares of the real estate investment trust’s stock valued at $27,873,000 after buying an additional 30,822 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Equity Commonwealth during the first quarter valued at about $4,358,000. Finally, Chesley Taft & Associates LLC increased its stake in shares of Equity Commonwealth by 36.3% in the first quarter. Chesley Taft & Associates LLC now owns 19,660 shares of the real estate investment trust’s stock valued at $614,000 after buying an additional 5,235 shares during the period. 93.19% of the stock is owned by institutional investors.
Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $98.55 million. During the same quarter in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was down 37.0% on a year-over-year basis. Analysts predict that Equity Commonwealth will post $0.19 EPS 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 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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