Stifel Nicolaus Reiterates “Hold” Rating for Equity Commonwealth (EQC)

Equity Commonwealth (NYSE:EQC)‘s stock had its “hold” rating reissued by investment analysts at Stifel Nicolaus in a report issued on Thursday. They presently have a $33.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 8.73% from the stock’s previous close.

A number of other research firms also recently commented on EQC. BidaskClub downgraded Equity Commonwealth from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Zacks Investment Research downgraded Equity Commonwealth from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $33.33.

Equity Commonwealth (NYSE EQC) traded down 0.33% during midday trading on Thursday, hitting $30.25. 48,055 shares of the stock traded hands. The stock has a market cap of $3.75 billion, a PE ratio of 35.09 and a beta of 0.13. Equity Commonwealth has a 12 month low of $28.04 and a 12 month high of $32.51. The company has a 50-day moving average of $30.69 and a 200-day moving average of $31.31.

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 Zacks’ 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 for the quarter, compared to analyst estimates of $98.55 million. During the same period last year, the firm earned $0.42 EPS. The company’s revenue for the quarter was down 37.0% compared to the same quarter last year. On average, equities research analysts anticipate that Equity Commonwealth will post $0.19 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in EQC. The Manufacturers Life Insurance Company raised its position in Equity Commonwealth by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 3,853 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 275 shares in the last quarter. Blair William & Co. IL purchased a new position in Equity Commonwealth during the second quarter valued at approximately $202,000. SG Americas Securities LLC raised its position in Equity Commonwealth by 39.8% during the first quarter. SG Americas Securities LLC now owns 7,212 shares of the real estate investment trust’s stock valued at $225,000 after acquiring an additional 2,052 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Equity Commonwealth by 5.9% during 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 acquiring an additional 433 shares in the last quarter. Finally, US Bancorp DE raised its position in Equity Commonwealth by 6.2% during the first quarter. US Bancorp DE now owns 9,425 shares of the real estate investment trust’s stock valued at $294,000 after acquiring an additional 551 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.

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 August 14, 2017, the Company’s portfolio included 20 properties and 11 million square feet.

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