Equity Commonwealth (EQC) Downgraded by Zacks Investment Research to Sell

Equity Commonwealth (NYSE:EQC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.

According to Zacks, “Equity Commonwealth is an internally managed and self-advised real estate investment trust. It primarily owns office buildings located throughout the United States. The majority of its portfolio consists of office buildings located in central business districts, or CBDs, of major metropolitan markets. Equity Commonwealth, formerly known as CommonWealth REIT, is based in Chicago. “

Other equities research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Equity Commonwealth from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. TheStreet lowered shares of Equity Commonwealth from a “b-” rating to a “c+” rating in a report on Wednesday, October 17th. Stifel Nicolaus lowered shares of Equity Commonwealth from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Citigroup upped their target price on shares of Equity Commonwealth from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $33.75.

EQC traded down $0.01 during trading on Monday, reaching $31.00. 334,300 shares of the stock traded hands, compared to its average volume of 709,599. 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 stock has a market capitalization of $3.77 billion, a P/E ratio of 33.70 and a beta of 0.17. Equity Commonwealth has a 12 month low of $27.96 and a 12 month high of $32.66.

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 consensus estimate of $0.19 by $0.06. Equity Commonwealth had a net margin of 104.48% and a return on equity of 7.35%. The firm had revenue of $46.87 million for the quarter, compared to analyst estimates of $48.78 million. As a group, research analysts predict that Equity Commonwealth will post 0.65 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Equity Commonwealth by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 18,189,989 shares of the real estate investment trust’s stock valued at $583,717,000 after buying an additional 419,945 shares during the last quarter. BlackRock Inc. increased its stake in Equity Commonwealth by 34.6% in the 3rd quarter. BlackRock Inc. now owns 8,622,374 shares of the real estate investment trust’s stock valued at $276,690,000 after buying an additional 2,214,889 shares during the last quarter. Janus Henderson Group PLC increased its stake in Equity Commonwealth by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 5,992,219 shares of the real estate investment trust’s stock valued at $192,290,000 after buying an additional 36,443 shares during the last quarter. Nuance Investments LLC increased its stake in Equity Commonwealth by 11.7% in the 3rd quarter. Nuance Investments LLC now owns 2,480,926 shares of the real estate investment trust’s stock valued at $79,534,000 after buying an additional 260,587 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Equity Commonwealth by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,952,009 shares of the real estate investment trust’s stock valued at $61,488,000 after buying an additional 11,311 shares during the last quarter. Hedge funds and other institutional investors own 97.82% of the company’s stock.

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 June 30, 2018, EQC's portfolio comprised 13 properties and 6.3 million square feet.

See Also: Return on Equity (ROE)

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