Zacks Investment Research upgraded shares of Equity Commonwealth (NYSE:EQC) from a sell rating to a hold rating in a research report report published on Tuesday morning.
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. “
Several other equities research analysts also recently weighed in on the stock. TheStreet downgraded shares of Equity Commonwealth from a b- rating to a c+ rating in a research note on Wednesday, October 17th. Citigroup upped their price target 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. Finally, ValuEngine upgraded shares of Equity Commonwealth from a hold rating to a buy rating in a report on Wednesday, August 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $33.75.
Shares of EQC opened at $31.57 on Tuesday. Equity Commonwealth has a twelve month low of $27.96 and a twelve month high of $32.66. The firm has a market capitalization of $3.90 billion, a PE ratio of 47.18 and a beta of 0.19. The company has a current ratio of 63.60, a quick ratio of 63.60 and a debt-to-equity ratio of 0.09.
Equity Commonwealth (NYSE:EQC) last announced its earnings results 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. Equity Commonwealth had a net margin of 104.48% and a return on equity of 7.35%. The business had revenue of $46.87 million for the quarter, compared to the consensus estimate of $48.78 million. On average, equities research analysts predict that Equity Commonwealth will post 0.65 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Equity Commonwealth by 2.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 75,780 shares of the real estate investment trust’s stock valued at $2,432,000 after buying an additional 1,630 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Equity Commonwealth by 4.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 79,542 shares of the real estate investment trust’s stock valued at $2,552,000 after buying an additional 3,372 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Equity Commonwealth in the 2nd quarter valued at about $116,000. San Francisco Sentry Investment Group CA bought a new stake in shares of Equity Commonwealth in the 3rd quarter valued at about $131,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Equity Commonwealth by 56.7% in the 2nd quarter. GSA Capital Partners LLP now owns 11,807 shares of the real estate investment trust’s stock valued at $372,000 after buying an additional 4,270 shares in the last quarter. Institutional investors 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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