JMP Securities Downgrades Equity Commonwealth (NYSE:EQC) to Market Perform

Equity Commonwealth (NYSE:EQC) was downgraded by research analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, The Fly reports.

EQC has been the topic of a number of other reports. Zacks Investment Research raised Equity Commonwealth from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a report on Tuesday, July 23rd. TheStreet raised Equity Commonwealth from a “c+” rating to a “b” rating in a report on Tuesday, April 30th.

NYSE EQC opened at $34.11 on Wednesday. The company has a quick ratio of 86.78, a current ratio of 86.78 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $33.22. The firm has a market capitalization of $4.11 billion, a P/E ratio of 49.43 and a beta of 0.25. Equity Commonwealth has a 1-year low of $28.48 and a 1-year high of $34.53.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in shares of Equity Commonwealth in the 4th quarter worth approximately $3,511,000. Raymond James & Associates boosted its holdings in shares of Equity Commonwealth by 123.8% in the 1st quarter. Raymond James & Associates now owns 52,049 shares of the real estate investment trust’s stock worth $1,701,000 after acquiring an additional 28,791 shares in the last quarter. Unigestion Holding SA bought a new position in Equity Commonwealth in the 2nd quarter worth approximately $2,832,000. WINTON GROUP Ltd raised its position in Equity Commonwealth by 31.4% in the 2nd quarter. WINTON GROUP Ltd now owns 35,767 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 8,546 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in Equity Commonwealth in the 2nd quarter worth approximately $173,000. 97.03% of the stock is currently owned by institutional investors.

Equity Commonwealth Company Profile

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 December 31, 2018, EQC's portfolio comprised 10 properties and 5.1 million square feet.

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