Zacks Investment Research lowered shares of Equity Commonwealth (NYSE:EQC) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Equity Commonwealth is an internally managed and self-advised real estate investment trust. It primarily owns office buildings located throughout the United States. The majority of its portfolio consists of office buildings located in central business districts, or CBDs, of major metropolitan markets. Equity Commonwealth, formerly known as CommonWealth REIT, is based in Chicago. “
Separately, Stifel Nicolaus upgraded Equity Commonwealth from a hold rating to a buy rating and upped their target price for the stock from $31.00 to $32.00 in a report on Friday, February 16th.
Several institutional investors and hedge funds have recently modified their holdings of EQC. Assetmark Inc. boosted its position in shares of Equity Commonwealth by 15,236.0% in the 4th quarter. Assetmark Inc. now owns 3,834 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 3,809 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Equity Commonwealth by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,853 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 275 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Equity Commonwealth in the 3rd quarter worth approximately $213,000. Millennium Management LLC bought a new stake in shares of Equity Commonwealth in the 4th quarter worth approximately $232,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Equity Commonwealth in the 3rd quarter worth approximately $240,000. 96.17% of the stock is currently owned by hedge funds and other institutional investors.
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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