BlackRock Inc. boosted its holdings in Equity Commonwealth (NYSE:EQC) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,408,887 shares of the real estate investment trust’s stock after purchasing an additional 78,780 shares during the quarter. BlackRock Inc. owned approximately 6.78% of Equity Commonwealth worth $256,555,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in Equity Commonwealth by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 3,853 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 275 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Equity Commonwealth in the third quarter valued at $213,000. SG Americas Securities LLC increased its stake in Equity Commonwealth by 33.7% in the third quarter. SG Americas Securities LLC now owns 9,087 shares of the real estate investment trust’s stock valued at $276,000 after purchasing an additional 2,292 shares during the last quarter. Worth Venture Partners LLC acquired a new position in Equity Commonwealth in the third quarter valued at $281,000. Finally, Quantbot Technologies LP acquired a new position in Equity Commonwealth in the third quarter valued at $284,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.
Several equities analysts recently commented on EQC shares. Stifel Nicolaus upgraded Equity Commonwealth from a “hold” rating to a “buy” rating and upped their target price for the company from $31.00 to $32.00 in a research note on Friday, February 16th. Zacks Investment Research upgraded Equity Commonwealth from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.40). The firm had revenue of $71.62 million for the quarter, compared to analyst estimates of $78.03 million. Equity Commonwealth had a return on equity of 0.93% and a net margin of 8.71%. sell-side analysts anticipate that Equity Commonwealth will post 0.68 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This report was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/03/13/blackrock-inc-has-256-56-million-position-in-equity-commonwealth-eqc.html.
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.
Want to see what other hedge funds are holding EQC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Commonwealth (NYSE:EQC).
Receive News & Ratings for Equity Commonwealth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Commonwealth and related companies with MarketBeat.com's FREE daily email newsletter.