Equity Commonwealth (EQC) Shares Bought by Ameriprise Financial Inc.
Ameriprise Financial Inc. lifted its position in shares of Equity Commonwealth (NYSE:EQC) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,396 shares of the real estate investment trust’s stock after acquiring an additional 10,493 shares during the quarter. Ameriprise Financial Inc. owned 0.06% of Equity Commonwealth worth $2,541,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in Equity Commonwealth in the 2nd quarter valued at approximately $304,000. Dimensional Fund Advisors LP lifted its stake in Equity Commonwealth by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,703,322 shares of the real estate investment trust’s stock valued at $53,178,000 after buying an additional 27,136 shares in the last quarter. Prudential Financial Inc. lifted its stake in Equity Commonwealth by 402.1% in the 1st quarter. Prudential Financial Inc. now owns 39,209 shares of the real estate investment trust’s stock valued at $1,224,000 after buying an additional 31,400 shares in the last quarter. Micawber Capital LLC purchased a new stake in Equity Commonwealth in the 2nd quarter valued at approximately $1,037,000. Finally, Martingale Asset Management L P lifted its stake in Equity Commonwealth by 1,171.6% in the 2nd quarter. Martingale Asset Management L P now owns 545,599 shares of the real estate investment trust’s stock valued at $17,242,000 after buying an additional 502,693 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.
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A number of equities research analysts recently issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $31.00 target price on shares of Equity Commonwealth in a research note on Thursday, October 26th. Zacks Investment Research lowered Equity Commonwealth from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. Finally, BidaskClub lowered Equity Commonwealth from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th.
Shares of Equity Commonwealth (NYSE EQC) opened at 29.95 on Tuesday. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The company has a 50-day moving average price of $30.34 and a 200-day moving average price of $31.09. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 34.66 and a beta of 0.14.
Equity Commonwealth (NYSE:EQC) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.05). The business had revenue of $77.80 million for the quarter, compared to the consensus estimate of $92.13 million. Equity Commonwealth had a return on equity of 2.00% and a net margin of 17.04%. The company’s quarterly revenue was down 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. On average, equities analysts expect that Equity Commonwealth will post $0.19 earnings per share for the current fiscal year.
Equity Commonwealth 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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