Equity Commonwealth (EQC) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Equity Commonwealth (NYSE:EQC) from a hold rating to a sell rating in a research report released on Monday 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. “

Several other research firms have also recently weighed in on EQC. Stifel Nicolaus cut 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. ValuEngine upgraded Equity Commonwealth from a hold rating to a buy rating in a report on Wednesday, August 15th. Citigroup increased their price objective on Equity Commonwealth from $31.00 to $32.00 and gave the stock a neutral rating in a report on Thursday, August 9th. Finally, TheStreet cut Equity Commonwealth from a b- rating to a c+ rating in a report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Equity Commonwealth currently has an average rating of Hold and an average target price of $33.75.

NYSE EQC opened at $30.99 on Monday. Equity Commonwealth has a fifty-two week low of $27.96 and a fifty-two week high of $32.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 63.60 and a quick ratio of 63.60. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 33.68 and a beta of 0.17.

Equity Commonwealth (NYSE:EQC) last released its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. Equity Commonwealth had a return on equity of 7.35% and a net margin of 104.48%. The business had revenue of $46.87 million during the quarter, compared to analysts’ expectations of $48.78 million. As a group, research analysts expect that Equity Commonwealth will post 0.65 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQC. Qube Research & Technologies Ltd purchased a new position in Equity Commonwealth during the second quarter valued at $116,000. San Francisco Sentry Investment Group CA purchased a new position in Equity Commonwealth during the third quarter valued at $131,000. Tower Research Capital LLC TRC purchased a new position in Equity Commonwealth during the second quarter valued at $177,000. Solstein Capital LLC purchased a new position in Equity Commonwealth during the second quarter valued at $221,000. Finally, Franklin Resources Inc. purchased a new position in Equity Commonwealth during the third quarter valued at $238,000. Institutional investors own 97.82% of the company’s stock.

Equity Commonwealth Company Profile

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.

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