Equity Commonwealth (EQC) Given Consensus Recommendation of “Hold” by Analysts

Equity Commonwealth (NYSE:EQC) has been given an average rating of “Hold” by the six research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $33.00.

Several analysts have recently weighed in on the company. ValuEngine upgraded Equity Commonwealth from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research lowered Equity Commonwealth from a “hold” rating to a “sell” rating in a report on Monday, November 26th. Finally, TheStreet lowered Equity Commonwealth from a “b-” rating to a “c+” rating in a report on Wednesday, October 17th.

Shares of EQC stock opened at $31.57 on Friday. The company has a quick ratio of 63.60, a current ratio of 63.60 and a debt-to-equity ratio of 0.09. Equity Commonwealth has a 1 year low of $27.96 and a 1 year high of $32.66. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 34.32 and a beta of 0.19.

Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The business had revenue of $46.87 million during the quarter, compared to analyst estimates of $48.78 million. Equity Commonwealth had a return on equity of 7.35% and a net margin of 104.48%. Equities analysts expect that Equity Commonwealth will post 0.65 EPS for the current year.

Several institutional investors have recently made changes to their positions in EQC. Bank of Montreal Can lifted its holdings in shares of Equity Commonwealth by 295.3% in the second quarter. Bank of Montreal Can now owns 69,754 shares of the real estate investment trust’s stock valued at $2,197,000 after buying an additional 52,108 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Equity Commonwealth by 98.6% in the second quarter. BNP Paribas Arbitrage SA now owns 26,473 shares of the real estate investment trust’s stock valued at $834,000 after buying an additional 13,144 shares during the period. Aperio Group LLC raised its position in shares of Equity Commonwealth by 71.9% during the second quarter. Aperio Group LLC now owns 117,221 shares of the real estate investment trust’s stock worth $3,692,000 after purchasing an additional 49,022 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Equity Commonwealth by 5.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 125,572 shares of the real estate investment trust’s stock worth $3,956,000 after purchasing an additional 6,931 shares during the period. Finally, Sei Investments Co. raised its position in shares of Equity Commonwealth by 15.5% during the second quarter. Sei Investments Co. now owns 794,012 shares of the real estate investment trust’s stock worth $25,011,000 after purchasing an additional 106,614 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.

Equity Commonwealth Company Profile

Equity Commonwealth operates as an internally managed and self-advised real estate investment trust. It engages in the ownership and operation of office properties. The company was founded by Barry M. Portnoy on October 9, 1986 and is headquartered in Chicago, IL.

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