Equity Commonwealth (EQC) : Jackson Square Partners reduced its stake in Equity Commonwealth by 25.26% during the most recent quarter end. The investment management company now holds a total of 6,196,907 shares of Equity Commonwealth which is valued at $180,268,025 after selling 2,094,138 shares in Equity Commonwealth , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Equity Commonwealth makes up approximately 0.85% of Jackson Square Partners’s portfolio.
Other Hedge Funds, Including , Diam Ltd. boosted its stake in EQC in the latest quarter, The investment management firm added 24,118 additional shares and now holds a total of 324,818 shares of Equity Commonwealth which is valued at $9,676,328. Equity Commonwealth makes up approx 0.15% of Diam Ltd.’s portfolio.Great West Life Assurance Co Can reduced its stake in EQC by selling 5,838 shares or 7.4% in the most recent quarter. The Hedge Fund company now holds 73,083 shares of EQC which is valued at $2,149,371. Equity Commonwealth makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.
Equity Commonwealth opened for trading at $28.9 and hit $29.2 on the upside on Monday, eventually ending the session at $29.08, with a gain of 0.80% or 0.23 points. The heightened volatility saw the trading volume jump to 7,19,062 shares. Company has a market cap of $3,650 M.
On the company’s financial health, Equity Commonwealth reported $0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Nov 2, 2016. Analyst had a consensus of $0.25. The company had revenue of $114.63 million for the quarter, compared to analysts expectations of $129.16 million. The company’s revenue was down -28.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.
Many Wall Street Analysts have commented on Equity Commonwealth. Company shares were Upgraded by RBC Capital Mkts on Sep 30, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 32 from a previous price target of $28 .
Equity Commonwealth (EQC) is an internally managed and self-advised real estate investment trust (REIT). The Company is engaged in the ownership and operation primarily of office buildings in central business district (CBD) and suburban locations throughout the United States. The Company’s two reportable segments include CBD properties and suburban properties. Its portfolio consists of 156 properties (262 buildings) with a combined 42.9 million square feet. The Company’s portfolio comprises 40 properties (53 buildings) with a combined 21.9 million square feet located in CBD locations and 116 properties (209 buildings) with a combined 21.0 million square feet located in suburban locations. Eleven of its properties (11 buildings) with a combined 1.8 million square feet are located in Australia. The Company’s properties are leased to approximately 1800 tenants. Its principal source of funds for its operations is rents from tenants at its properties.