Equity Commonwealth (EQC) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in shares of Equity Commonwealth (NYSE:EQC) by 31.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 497,702 shares of the real estate investment trust’s stock after acquiring an additional 119,122 shares during the period. Russell Investments Group Ltd.’s holdings in Equity Commonwealth were worth $15,931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQC. Qube Research & Technologies Ltd purchased a new stake in Equity Commonwealth during the 2nd quarter valued at approximately $116,000. Tower Research Capital LLC TRC purchased a new stake in Equity Commonwealth during the 2nd quarter valued at approximately $177,000. Solstein Capital LLC purchased a new stake in Equity Commonwealth during the 2nd quarter valued at approximately $221,000. Brown Advisory Inc. purchased a new stake in Equity Commonwealth during the 1st quarter valued at approximately $222,000. Finally, Citadel Advisors LLC purchased a new stake in Equity Commonwealth during the 2nd quarter valued at approximately $317,000. 96.95% of the stock is owned by institutional investors and hedge funds.

NYSE EQC opened at $30.84 on Friday. The company has a quick ratio of 63.60, a current ratio of 63.60 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.74 billion, a PE ratio of 33.52 and a beta of 0.17. Equity Commonwealth has a one year low of $27.96 and a one year high of $32.66.

Equity Commonwealth (NYSE:EQC) last posted its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $46.87 million during the quarter, compared to the consensus estimate of $48.78 million. Equity Commonwealth had a return on equity of 7.35% and a net margin of 104.48%. On average, sell-side analysts expect that Equity Commonwealth will post 0.65 EPS for the current year.

The company also recently announced a dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th were given a dividend of $2.50 per share. The ex-dividend date of this dividend was Friday, October 5th.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Equity Commonwealth from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. TheStreet lowered shares of Equity Commonwealth from a “b-” rating to a “c+” rating in a report on Wednesday, October 17th. ValuEngine raised shares of Equity Commonwealth from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Citigroup increased their price objective on shares of Equity Commonwealth from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Finally, Stifel Nicolaus lowered shares of Equity Commonwealth from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a report on Wednesday, August 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.75.

WARNING: “Equity Commonwealth (EQC) Shares Bought by Russell Investments Group Ltd.” was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright law. The original version of this piece of content can be read at https://sportsperspectives.com/2018/11/10/equity-commonwealth-eqc-shares-bought-by-russell-investments-group-ltd.html.

About Equity Commonwealth

Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. As of June 30, 2018, EQC's portfolio comprised 13 properties and 6.3 million square feet.

Featured Article: Dow Jones Industrial Average (DJIA)

Want to see what other hedge funds are holding EQC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Commonwealth (NYSE:EQC).

Institutional Ownership by Quarter for Equity Commonwealth (NYSE:EQC)

Receive News & Ratings for Equity Commonwealth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Commonwealth and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply