Equity Commonwealth’s (EQC) “Hold” Rating Reaffirmed at Stifel Nicolaus
Equity Commonwealth (NYSE:EQC)‘s stock had its “hold” rating reiterated by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Thursday. They currently have a $33.00 target price on the real estate investment trust’s stock. Stifel Nicolaus’ target price suggests a potential upside of 8.73% from the stock’s previous close.
Several other research firms have also issued reports on EQC. BidaskClub raised shares of Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Zacks Investment Research lowered shares of Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $33.33.
Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05). Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. The business had revenue of $91.60 million during the quarter, compared to analyst estimates of $98.55 million. During the same period last year, the company earned $0.42 EPS. The business’s revenue for the quarter was down 37.0% on a year-over-year basis.
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A number of large investors have recently bought and sold shares of EQC. Janus Capital Management raised its position in Equity Commonwealth by 3.7% in the third quarter. Janus Capital Management now owns 216,279 shares of the real estate investment trust’s stock worth $5,891,000 after purchasing an additional 7,700 shares in the last quarter. Quantitative Systematic Strategies increased its holdings in shares of Equity Commonwealth by 157.4% during the fourth quarter. Quantitative Systematic Strategies now owns 36,099 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 22,072 shares in the last quarter. Alpha Windward increased its holdings in shares of Equity Commonwealth by 3.2% during the fourth quarter. Alpha Windward now owns 16,601 shares of the real estate investment trust’s stock worth $460,000 after buying an additional 521 shares in the last quarter. Private Wealth Partners LLC increased its holdings in shares of Equity Commonwealth by 5.7% during the fourth quarter. Private Wealth Partners LLC now owns 50,400 shares of the real estate investment trust’s stock worth $1,398,000 after buying an additional 2,700 shares in the last quarter. Finally, Russell Frank Co increased its holdings in shares of Equity Commonwealth by 34.7% during the fourth quarter. Russell Frank Co now owns 1,140,784 shares of the real estate investment trust’s stock worth $31,874,000 after buying an additional 293,753 shares in the last quarter. 93.96% of the stock is owned by hedge funds and other institutional investors.
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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