Deutsche Bank AG lessened its stake in shares of Equity Commonwealth (NYSE:EQC) by 17.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 369,590 shares of the real estate investment trust’s stock after selling 78,099 shares during the quarter. Deutsche Bank AG’s holdings in Equity Commonwealth were worth $11,089,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Equity Commonwealth by 34.6% in the 3rd quarter. BlackRock Inc. now owns 8,622,374 shares of the real estate investment trust’s stock valued at $276,690,000 after purchasing an additional 2,214,889 shares during the period. Norges Bank acquired a new position in shares of Equity Commonwealth in the 4th quarter valued at about $40,047,000. APG Asset Management N.V. acquired a new position in shares of Equity Commonwealth in the 4th quarter valued at about $22,482,000. Bessemer Group Inc. increased its holdings in shares of Equity Commonwealth by 64.8% in the 4th quarter. Bessemer Group Inc. now owns 1,316,639 shares of the real estate investment trust’s stock valued at $39,512,000 after purchasing an additional 517,578 shares during the period. Finally, Vanguard Group Inc increased its holdings in shares of Equity Commonwealth by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 18,189,989 shares of the real estate investment trust’s stock valued at $583,717,000 after purchasing an additional 419,945 shares during the period. Hedge funds and other institutional investors own 96.86% of the company’s stock.
In other news, Director James Lloyd Lozier, Jr. sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $32.46, for a total value of $194,760.00. Following the transaction, the director now owns 11,984 shares in the company, valued at approximately $389,000.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.
Shares of EQC opened at $31.37 on Wednesday. The stock has a market capitalization of $3.96 billion, a PE ratio of 45.46 and a beta of 0.33. Equity Commonwealth has a fifty-two week low of $28.48 and a fifty-two week high of $33.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 43.37 and a current ratio of 43.37.
Equity Commonwealth (NYSE:EQC) last issued its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $42.93 million for the quarter, compared to the consensus estimate of $44.62 million. Equity Commonwealth had a return on equity of 8.58% and a net margin of 138.47%. The firm’s quarterly revenue was down 40.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. On average, sell-side analysts expect that Equity Commonwealth will post 0.47 EPS for the current fiscal year.
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About Equity Commonwealth
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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