TheStreet Lowers Equity Commonwealth (NYSE:EQC) to C

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TheStreet downgraded shares of Equity Commonwealth (NYSE:EQC) from a b- rating to a c rating in a report released on Thursday, TheStreetRatingsTable reports.

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

Shares of NYSE:EQC opened at $31.57 on Thursday. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 65.77 and a beta of 0.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 129.65 and a current ratio of 129.65. The stock’s 50-day simple moving average is $31.90 and its two-hundred day simple moving average is $32.42. Equity Commonwealth has a 52-week low of $27.62 and a 52-week high of $35.08.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ellevest Inc. bought a new position in shares of Equity Commonwealth in the first quarter worth about $26,000. Weaver Consulting Group raised its stake in shares of Equity Commonwealth by 85.1% in the second quarter. Weaver Consulting Group now owns 870 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 400 shares during the period. Van ECK Associates Corp raised its stake in shares of Equity Commonwealth by 108.7% in the first quarter. Van ECK Associates Corp now owns 1,480 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 771 shares during the period. Pacer Advisors Inc. bought a new position in shares of Equity Commonwealth in the second quarter worth about $149,000. Finally, First Hawaiian Bank bought a new position in shares of Equity Commonwealth in the first quarter worth about $205,000. 94.42% of the stock is currently owned by hedge funds and other institutional investors.

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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