New York State Teachers Retirement System continued to hold its position in shares of Equity Commonwealth (NYSE:EQC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,800 shares of the real estate investment trust’s stock at the end of the first quarter. New York State Teachers Retirement System’s holdings in Equity Commonwealth were worth $337,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Equity Commonwealth by 0.8% in the first quarter. Principal Financial Group Inc. now owns 21,414 shares of the real estate investment trust’s stock valued at $669,000 after buying an additional 161 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Equity Commonwealth by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,378 shares of the real estate investment trust’s stock valued at $314,000 after buying an additional 184 shares during the last quarter. Thrivent Financial For Lutherans raised its position in shares of Equity Commonwealth by 1.1% in the first quarter. Thrivent Financial For Lutherans now owns 37,100 shares of the real estate investment trust’s stock valued at $1,158,000 after buying an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Equity Commonwealth by 5.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,769 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 433 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Equity Commonwealth by 6.2% in the first quarter. US Bancorp DE now owns 9,425 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 551 shares during the last quarter. 93.19% of the stock is owned by institutional investors and hedge funds.
Equity Commonwealth (NYSE:EQC) opened at 30.82 on Wednesday. Equity Commonwealth has a 12-month low of $28.04 and a 12-month high of $32.51. The stock has a 50 day moving average price of $31.64 and a 200 day moving average price of $31.41. The stock has a market cap of $3.82 billion, a P/E ratio of 35.75 and a beta of 0.08.
Equity Commonwealth (NYSE:EQC) last released its earnings results on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.05. Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. The firm had revenue of $91.60 million during the quarter, compared to analyst estimates of $98.55 million. During the same quarter last year, the business posted $0.42 EPS. The firm’s revenue was down 37.0% on a year-over-year basis. On average, analysts forecast that Equity Commonwealth will post $0.19 earnings per share for the current fiscal year.
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EQC has been the subject of a number of recent research reports. Zacks Investment Research downgraded Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. BidaskClub lowered Equity Commonwealth from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $33.00 price objective on shares of Equity Commonwealth in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.75.
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 December 31, 2016, the Company’s portfolio included 33 properties, one land parcel and one property taken out of a service, classified as a land parcel, with a combined 16.1 million square feet.
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