Equity Commonwealth (EQC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Equity Commonwealth (NYSE:EQC) from a sell rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Equity Commonwealth is an internally managed and self-advised real estate investment trust. It primarily owns office buildings located throughout the United States. The majority of its portfolio consists of office buildings located in central business districts, or CBDs, of major metropolitan markets. Equity Commonwealth, formerly known as CommonWealth REIT, is based in Chicago. “

A number of other equities analysts have also issued reports on the stock. TheStreet lowered shares of Equity Commonwealth from a b- rating to a c+ rating in a research report on Wednesday, October 17th. ValuEngine raised shares of Equity Commonwealth from a hold rating to a buy rating in a research report on Wednesday, August 15th. Finally, Citigroup raised their price target on shares of Equity Commonwealth from $31.00 to $32.00 and gave the stock a neutral rating in a research report on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $33.75.

Shares of Equity Commonwealth stock opened at $31.57 on Tuesday. The company has a market capitalization of $3.90 billion, a P/E ratio of 47.18 and a beta of 0.19. The company has a quick ratio of 63.60, a current ratio of 63.60 and a debt-to-equity ratio of 0.09. Equity Commonwealth has a 52 week low of $27.96 and a 52 week high of $32.66.

Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Equity Commonwealth had a net margin of 104.48% and a return on equity of 7.35%. The company had revenue of $46.87 million during the quarter, compared to analyst estimates of $48.78 million. Analysts expect that Equity Commonwealth will post 0.65 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Equity Commonwealth by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 18,189,989 shares of the real estate investment trust’s stock worth $583,717,000 after buying an additional 419,945 shares during the last quarter. BlackRock Inc. raised its position in Equity Commonwealth by 34.6% during the 3rd quarter. BlackRock Inc. now owns 8,622,374 shares of the real estate investment trust’s stock worth $276,690,000 after buying an additional 2,214,889 shares during the last quarter. Janus Henderson Group PLC raised its position in Equity Commonwealth by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 5,992,219 shares of the real estate investment trust’s stock worth $192,290,000 after buying an additional 36,443 shares during the last quarter. Nuance Investments LLC raised its position in Equity Commonwealth by 11.7% during the 3rd quarter. Nuance Investments LLC now owns 2,480,926 shares of the real estate investment trust’s stock worth $79,534,000 after buying an additional 260,587 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Equity Commonwealth by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,952,009 shares of the real estate investment trust’s stock worth $61,488,000 after buying an additional 11,311 shares during the last quarter. 97.16% of the stock is owned by institutional investors.

Equity Commonwealth Company Profile

Equity Commonwealth operates as an internally managed and self-advised real estate investment trust. It engages in the ownership and operation of office properties. The company was founded by Barry M. Portnoy on October 9, 1986 and is headquartered in Chicago, IL.

Read More: Price to Earnings Ratio (PE)

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