RBC Capital Upgrades Equity Commonwealth to Sector Perform

Brokerage firm RBC Capital Upgrades its rating on Equity Commonwealth(NYSE:EQC). The shares have been rated Sector Perform. Previously, the analysts had a Underperform rating on the shares. The rating by RBC Capital was issued on Sep 30, 2016.

In a different note, On Sep 1, 2016, Citigroup said it Maintains its rating on Equity Commonwealth. In the research note, the firm Raises the price-target to $28.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 15, 2016, Bank of America said it Upgrades its rating on Equity Commonwealth. The shares have been rated ‘Buy’ by the firm.

Equity Commonwealth (EQC) shares turned negative on Tuesdays trading session with the shares closing down -0.46 points or -1.52% at a volume of 7,71,767. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.2. The peak price level was also seen at $30.2 while the days lowest was $29.58. Finally the shares closed at $29.72. The 52-week high of the shares is $31.905 while the 52-week low is $25.23. According to the latest information available, the market cap of the company is $3,731 M.

Equity Commonwealth(EQC) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $145.37M. Analysts had an estimated revenue of $136.57M. Earnings per share were $0.42. Analysts had estimated an EPS of $0.30.

Several Insider Transactions has been reported to the SEC. On Aug 10, 2015, Adam Scott Markman (CFO) purchased 4,500 shares at $27.21 per share price.

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.

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