Cubist Systematic Strategies LLC acquired a new position in Equity Commonwealth (NYSE:EQC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,003 shares of the real estate investment trust’s stock, valued at approximately $213,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in Equity Commonwealth by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 3,853 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 275 shares during the period. Archford Capital Strategies LLC lifted its holdings in shares of Equity Commonwealth by 38,920.0% during the second quarter. Archford Capital Strategies LLC now owns 5,853 shares of the real estate investment trust’s stock valued at $418,000 after purchasing an additional 5,838 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Equity Commonwealth during the third quarter valued at approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Equity Commonwealth by 6.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,232 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 463 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Equity Commonwealth by 33.7% during the third quarter. SG Americas Securities LLC now owns 9,087 shares of the real estate investment trust’s stock valued at $276,000 after purchasing an additional 2,292 shares during the last quarter. Institutional investors and hedge funds own 95.29% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $31.00 target price on shares of Equity Commonwealth in a report on Thursday, October 26th. Zacks Investment Research lowered shares of Equity Commonwealth from a “hold” rating to a “sell” rating in a report on Thursday, October 19th.
Equity Commonwealth (NYSE:EQC) last released its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.05). Equity Commonwealth had a net margin of 17.04% and a return on equity of 2.00%. The business had revenue of $77.80 million for the quarter, compared to analysts’ expectations of $92.13 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. Equity Commonwealth’s revenue for the quarter was down 32.1% on a year-over-year basis. sell-side analysts predict that Equity Commonwealth will post 0.9 EPS for the current fiscal year.
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Equity Commonwealth Company Profile
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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