TD Asset Management Inc. increased its stake in shares of Equity Commonwealth (NYSE:EQC) by 8.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,600 shares of the real estate investment trust’s stock after buying an additional 3,200 shares during the period. TD Asset Management Inc.’s holdings in Equity Commonwealth were worth $1,283,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in shares of Equity Commonwealth by 39.8% in the first quarter. SG Americas Securities LLC now owns 7,212 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 2,052 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $243,000 after buying an additional 433 shares during the period. US Bancorp DE boosted its stake 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 worth $294,000 after buying an additional 551 shares during the period. TLP Group LLC acquired a new stake in shares of Equity Commonwealth during the first quarter worth $297,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Equity Commonwealth during the first quarter worth $341,000. Institutional investors own 93.36% of the company’s stock.
Shares of Equity Commonwealth (NYSE EQC) opened at 30.44 on Friday. Equity Commonwealth has a one year low of $28.04 and a one year high of $32.51. The firm has a 50-day moving average of $31.14 and a 200-day moving average of $31.36. The stock has a market cap of $3.78 billion, a PE ratio of 35.31 and a beta of 0.08.
Equity Commonwealth (NYSE:EQC) last issued its earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.05. The firm had revenue of $91.60 million during the quarter, compared to analyst estimates of $98.55 million. Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The firm’s revenue was down 37.0% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. On average, equities research analysts expect that Equity Commonwealth will post $0.19 earnings per share for the current fiscal year.
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EQC has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Equity Commonwealth from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Monday, May 8th. Stifel Nicolaus restated a “hold” rating and issued a $33.00 price objective on shares of Equity Commonwealth in a report on Friday, July 28th. Finally, BidaskClub upgraded shares of Equity Commonwealth from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.75.
About Equity Commonwealth
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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