Russell Investments Group Ltd. raised its stake in shares of Equity Commonwealth (NYSE:EQC) by 31.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 497,702 shares of the real estate investment trust’s stock after acquiring an additional 119,122 shares during the period. Russell Investments Group Ltd. owned approximately 0.41% of Equity Commonwealth worth $15,931,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of EQC. Qube Research & Technologies Ltd bought a new position in shares of Equity Commonwealth in the 2nd quarter worth approximately $116,000. Tower Research Capital LLC TRC bought a new position in shares of Equity Commonwealth in the 2nd quarter worth approximately $177,000. Solstein Capital LLC bought a new position in shares of Equity Commonwealth in the 2nd quarter worth approximately $221,000. Brown Advisory Inc. bought a new position in shares of Equity Commonwealth in the 1st quarter worth approximately $222,000. Finally, Citadel Advisors LLC bought a new position in shares of Equity Commonwealth in the 2nd quarter worth approximately $317,000. Institutional investors and hedge funds own 96.95% of the company’s stock.
Several equities analysts have recently weighed in on EQC shares. Stifel Nicolaus cut shares of Equity Commonwealth from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Zacks Investment Research cut shares of Equity Commonwealth from a “buy” rating to a “sell” rating in a research note on Wednesday, October 10th. TheStreet cut shares of Equity Commonwealth from a “b-” rating to a “c+” rating in a research note on Wednesday, October 17th. ValuEngine upgraded shares of Equity Commonwealth from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Finally, Citigroup increased their price objective on shares of Equity Commonwealth from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $33.75.
Shares of NYSE:EQC opened at $30.84 on Friday. Equity Commonwealth has a twelve month low of $27.96 and a twelve month high of $32.66. The company has a current ratio of 63.60, a quick ratio of 63.60 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.74 billion, a PE ratio of 33.52 and a beta of 0.17.
Equity Commonwealth (NYSE:EQC) last released its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The company had revenue of $46.87 million during the quarter, compared to analyst estimates of $48.78 million. Equity Commonwealth had a net margin of 104.48% and a return on equity of 7.35%. As a group, analysts expect that Equity Commonwealth will post 0.65 EPS for the current fiscal year.
The company also recently announced a dividend, which was paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th were issued a $2.50 dividend. The ex-dividend date of this dividend was Friday, October 5th.
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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. As of June 30, 2018, EQC's portfolio comprised 13 properties and 6.3 million square feet.
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