California Public Employees Retirement System Has $11.24 Million Position in Equity Commonwealth (EQC)

California Public Employees Retirement System increased its holdings in Equity Commonwealth (NYSE:EQC) by 5.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 343,732 shares of the real estate investment trust’s stock after purchasing an additional 18,909 shares during the quarter. California Public Employees Retirement System’s holdings in Equity Commonwealth were worth $11,237,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EQC. Norges Bank purchased a new position in Equity Commonwealth in the fourth quarter worth approximately $40,047,000. APG Asset Management N.V. purchased a new position in Equity Commonwealth in the fourth quarter worth approximately $22,482,000. Bessemer Group Inc. grew its position in Equity Commonwealth by 64.8% in the fourth quarter. Bessemer Group Inc. now owns 1,316,639 shares of the real estate investment trust’s stock worth $39,512,000 after acquiring an additional 517,578 shares during the period. Vanguard Group Inc grew its position in Equity Commonwealth by 2.4% in the third quarter. Vanguard Group Inc now owns 18,189,989 shares of the real estate investment trust’s stock worth $583,717,000 after acquiring an additional 419,945 shares during the period. Finally, St. James Investment Company LLC purchased a new position in Equity Commonwealth in the fourth quarter worth approximately $11,397,000. Institutional investors own 96.80% of the company’s stock.

In other news, CFO Adam Scott Markman sold 12,500 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $31.96, for a total transaction of $399,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Equity Commonwealth from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Friday, May 3rd. TheStreet upgraded Equity Commonwealth from a “c+” rating to a “b” rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.00.

EQC opened at $32.03 on Thursday. Equity Commonwealth has a 52 week low of $28.48 and a 52 week high of $33.77. The firm has a market cap of $3.92 billion, a PE ratio of 46.42 and a beta of 0.31. The company has a quick ratio of 73.38, a current ratio of 73.38 and a debt-to-equity ratio of 0.08.

Equity Commonwealth (NYSE:EQC) last released its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Equity Commonwealth had a return on equity of 9.31% and a net margin of 164.13%. The business had revenue of $41.75 million during the quarter, compared to analyst estimates of $36.17 million. During the same period last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was down 28.7% on a year-over-year basis. Equities research analysts predict that Equity Commonwealth will post 0.6 earnings per share for the current fiscal year.

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

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