Equity Commonwealth (NYSE:EQC)‘s stock had its “neutral” rating restated by Bank of America in a research note issued to investors on Thursday, Fintech Zoom reports. They currently have a $29.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $32.00. Bank of America‘s price target points to a potential upside of 9.10% from the stock’s current price.
Separately, Zacks Investment Research raised Equity Commonwealth from a “sell” rating to a “hold” rating in a research note on Wednesday, April 21st.
NYSE EQC opened at $26.58 on Thursday. The firm’s 50-day simple moving average is $28.30 and its two-hundred day simple moving average is $27.66. Equity Commonwealth has a 52 week low of $25.80 and a 52 week high of $34.17. The company has a market cap of $3.24 billion, a PE ratio of 7.26 and a beta of 0.23.
Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings data on Tuesday, May 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.11). The company had revenue of $14.85 million during the quarter, compared to the consensus estimate of $14.71 million. Equity Commonwealth had a return on equity of 14.07% and a net margin of 604.59%. The firm’s revenue for the quarter was down 21.1% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. As a group, equities research analysts expect that Equity Commonwealth will post 0.16 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Fieldpoint Private Securities LLC acquired a new stake in Equity Commonwealth in the 4th quarter valued at $25,000. Quadrant Capital Group LLC boosted its stake in shares of Equity Commonwealth by 107.9% during the 1st quarter. Quadrant Capital Group LLC now owns 1,297 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 673 shares during the period. JJJ Advisors Inc. acquired a new stake in shares of Equity Commonwealth during the 4th quarter valued at $60,000. Neo Ivy Capital Management acquired a new stake in shares of Equity Commonwealth during the 4th quarter valued at $80,000. Finally, Advisory Services Network LLC raised its holdings in shares of Equity Commonwealth by 17.1% during the 4th quarter. Advisory Services Network LLC now owns 3,628 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 531 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.
About Equity Commonwealth
Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. EQC’s same property portfolio is comprised of 4 properties and 1.5 million square feet.
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