Equity Commonwealth (EQC) Issues Earnings Results, Misses Estimates By $0.01 EPS

Equity Commonwealth (NYSE:EQC) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01), Briefing.com reports. Equity Commonwealth had a return on equity of 2.00% and a net margin of 17.04%. The company had revenue of $71.62 million for the quarter, compared to the consensus estimate of $73.89 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 30.8% compared to the same quarter last year.

Equity Commonwealth (EQC) traded down $0.09 during mid-day trading on Wednesday, reaching $28.55. 701,033 shares of the company’s stock were exchanged, compared to its average volume of 740,898. The company has a debt-to-equity ratio of 0.27, a quick ratio of 41.39 and a current ratio of 41.39. Equity Commonwealth has a 1 year low of $27.96 and a 1 year high of $32.51. The company has a market capitalization of $3,573.77, a PE ratio of 64.89 and a beta of 0.03.

An institutional investor recently raised its position in Equity Commonwealth stock. The Manufacturers Life Insurance Company boosted its stake in shares of Equity Commonwealth (NYSE:EQC) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,853 shares of the real estate investment trust’s stock after purchasing an additional 275 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Equity Commonwealth were worth $122,000 at the end of the most recent reporting period. 94.81% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $31.00 price objective on shares of Equity Commonwealth in a research report on Thursday, October 26th. Zacks Investment Research cut shares of Equity Commonwealth from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th.

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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.

Earnings History for Equity Commonwealth (NYSE:EQC)

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