Equity Commonwealth (NYSE:EQC) Stock Rating Lowered by TheStreet

Equity Commonwealth (NYSE:EQC) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.

Several other equities research analysts also recently commented on the company. Zacks Investment Research upgraded Equity Commonwealth from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. Citigroup raised their target price on Equity Commonwealth from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, April 7th. Four research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $35.00.

Shares of NYSE EQC traded up $0.27 during midday trading on Thursday, hitting $31.57. The stock had a trading volume of 1,010,415 shares, compared to its average volume of 559,555. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 8.20 and a beta of 0.27. Equity Commonwealth has a 1-year low of $27.62 and a 1-year high of $35.08. The company has a quick ratio of 129.65, a current ratio of 129.65 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $31.90 and a 200 day moving average price of $32.42.

Equity Commonwealth (NYSE:EQC) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.11 by $0.10. The business had revenue of $16.27 million for the quarter, compared to the consensus estimate of $18.69 million. Equity Commonwealth had a return on equity of 15.14% and a net margin of 560.80%. The company’s revenue was down 51.3% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. On average, research analysts forecast that Equity Commonwealth will post 0.44 EPS for the current year.

A number of hedge funds have recently bought and sold shares of EQC. Invesco Ltd. boosted its position in Equity Commonwealth by 32.9% during the 1st quarter. Invesco Ltd. now owns 282,992 shares of the real estate investment trust’s stock valued at $8,975,000 after purchasing an additional 70,131 shares during the period. AQR Capital Management LLC boosted its position in Equity Commonwealth by 332.3% during the 1st quarter. AQR Capital Management LLC now owns 106,757 shares of the real estate investment trust’s stock valued at $3,385,000 after purchasing an additional 82,061 shares during the period. Strs Ohio boosted its position in Equity Commonwealth by 171.3% during the 2nd quarter. Strs Ohio now owns 74,296 shares of the real estate investment trust’s stock valued at $2,392,000 after purchasing an additional 46,906 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Equity Commonwealth during the 1st quarter valued at approximately $3,008,000. Finally, Toronto Dominion Bank acquired a new position in Equity Commonwealth during the 1st quarter valued at approximately $1,029,000. Institutional investors own 94.42% 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 December 31, 2018, EQC's portfolio comprised 10 properties and 5.1 million square feet.

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