Brokerages Set Equity Commonwealth (EQC) PT at $33.00

Equity Commonwealth (NYSE:EQC) has received an average rating of “Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $33.75.

Several analysts have recently commented on EQC shares. TheStreet raised shares of Equity Commonwealth from a “c+” rating to a “b” rating in a research report on Tuesday, April 30th. Zacks Investment Research raised shares of Equity Commonwealth from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Friday.

In other news, Director James Lloyd Lozier, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $32.46, for a total transaction of $194,760.00. Following the completion of the sale, the director now owns 11,984 shares of the company’s stock, valued at approximately $389,000.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of 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 worth $583,717,000 after purchasing an additional 419,945 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of 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 worth $583,717,000 after purchasing an additional 419,945 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Equity Commonwealth by 1.7% in the 4th quarter. BlackRock Inc. now owns 8,766,796 shares of the real estate investment trust’s stock worth $263,091,000 after purchasing an additional 144,422 shares in the last quarter. Resolution Capital Ltd lifted its holdings in shares of Equity Commonwealth by 15.6% in the 4th quarter. Resolution Capital Ltd now owns 2,312,713 shares of the real estate investment trust’s stock worth $69,405,000 after purchasing an additional 312,392 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Equity Commonwealth by 3.9% in the 4th quarter. Northern Trust Corp now owns 2,145,981 shares of the real estate investment trust’s stock worth $64,400,000 after purchasing an additional 80,812 shares in the last quarter. Institutional investors own 96.44% of the company’s stock.

NYSE:EQC traded down $0.30 on Thursday, reaching $31.90. 726,000 shares of the stock traded hands, compared to its average volume of 658,298. The company has a market capitalization of $3.91 billion, a PE ratio of 46.23 and a beta of 0.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 73.38 and a current ratio of 73.38. Equity Commonwealth has a 1-year low of $28.48 and a 1-year high of $33.77.

Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $41.75 million during the quarter, compared to the consensus estimate of $36.17 million. Equity Commonwealth had a net margin of 164.13% and a return on equity of 9.31%. The company’s quarterly revenue was down 28.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. Research analysts predict that Equity Commonwealth will post 0.6 EPS for the current year.

About Equity Commonwealth

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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