CommonWealth REIT Sets New 52-Week High at $28.28 (CWH)
Shares of CommonWealth REIT (NYSE:CWH) hit a new 52-week high on Thursday , Analyst Ratings Network.com reports. The company traded as high as $28.28 and last traded at $28.25, with a volume of 365,939 shares. The stock had previously closed at $27.90.
A number of research firms have recently commented on CWH. Analysts at Stifel upgraded shares of CommonWealth REIT from a “sell” rating to a “hold” rating in a research note on Friday, June 13th. Separately, analysts at Stifel Nicolaus upgraded shares of CommonWealth REIT from a “sell” rating to a “hold” rating in a research note on Friday, June 13th. They noted that the move was a valuation call. Finally, analysts at Zacks upgraded shares of CommonWealth REIT from an “underperform” rating to a “neutral” rating in a research note on Wednesday, May 28th. They now have a $26.70 price target on the stock. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.70.
The stock’s 50-day moving average is $26.29 and its 200-day moving average is $25.44. CommonWealth REIT also saw a large drop in short interest during the month of May. As of May 30th, there was short interest totalling 4,761,463 shares, a drop of 60.0% from the May 15th total of 11,898,443 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average daily volume of 1,041,869 shares, the short-interest ratio is currently 4.6 days.
CommonWealth REIT (NYSE:CWH) last announced its earnings results on Thursday, May 8th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.01. The company had revenue of $217.30 million for the quarter, compared to the consensus estimate of $202.97 million. During the same quarter last year, the company posted $0.78 earnings per share. CommonWealth REIT’s revenue was down 17.3% compared to the same quarter last year. On average, analysts predict that CommonWealth REIT will post $2.29 earnings per share for the current fiscal year.
CommonWealth REIT (NYSE:CWH) is a real estate investment trust (REIT).
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