Mangrove Partners grew its position in shares of Equity Commonwealth (NYSE:EQC) by 94.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,896,125 shares of the real estate investment trust’s stock after acquiring an additional 922,855 shares during the quarter. Equity Commonwealth comprises approximately 9.9% of Mangrove Partners’ holdings, making the stock its 3rd largest holding. Mangrove Partners owned 1.53% of Equity Commonwealth worth $57,642,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EQC. The Manufacturers Life Insurance Company raised its holdings in Equity Commonwealth by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,853 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 275 shares during the period. Blair William & Co. IL purchased a new stake in Equity Commonwealth during the 2nd quarter valued at $202,000. Fox Run Management L.L.C. purchased a new stake in Equity Commonwealth during the 3rd quarter valued at $240,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Equity Commonwealth by 6.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,232 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 463 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Equity Commonwealth by 33.7% during the 3rd quarter. SG Americas Securities LLC now owns 9,087 shares of the real estate investment trust’s stock valued at $276,000 after buying an additional 2,292 shares during the period. Hedge funds and other institutional investors own 95.29% of the company’s stock.
Shares of Equity Commonwealth (NYSE EQC) opened at $30.17 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 41.39 and a quick ratio of 41.39. Equity Commonwealth has a 52 week low of $28.99 and a 52 week high of $32.51. The firm has a market capitalization of $3,743.78, a price-to-earnings ratio of 31.10 and a beta of 0.10.
Equity Commonwealth (NYSE:EQC) last released its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). Equity Commonwealth had a return on equity of 2.00% and a net margin of 17.04%. The business had revenue of $77.80 million during the quarter, compared to analysts’ expectations of $92.13 million. During the same quarter in the previous year, the business earned $0.23 EPS. The business’s revenue for the quarter was down 32.1% on a year-over-year basis. sell-side analysts expect that Equity Commonwealth will post 0.9 EPS for the current year.
EQC has been the topic of several recent research reports. Zacks Investment Research upgraded Equity Commonwealth from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. Stifel Nicolaus restated a “hold” rating and set a $31.00 price target on shares of Equity Commonwealth in a report on Thursday, October 26th.
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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.
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