Equity Commonwealth (NYSE:EQC) Sees Significant Decline in Short Interest

Equity Commonwealth (NYSE:EQC) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,990,000 shares, a decline of 18.4% from the March 31st total of 2,440,000 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 806,400 shares, the days-to-cover ratio is currently 2.5 days.

Shares of Equity Commonwealth stock traded up $0.17 during midday trading on Tuesday, hitting $28.95. The company had a trading volume of 1,061,526 shares, compared to its average volume of 807,404. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 7.91 and a beta of 0.23. Equity Commonwealth has a 12-month low of $25.80 and a 12-month high of $34.75. The company has a fifty day simple moving average of $28.40 and a 200 day simple moving average of $27.63.

Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings results on Tuesday, February 9th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.05). Equity Commonwealth had a return on equity of 14.07% and a net margin of 604.59%. The company had revenue of $14.71 million during the quarter, compared to analysts’ expectations of $14.94 million. During the same period in the prior year, the business posted $0.16 EPS. The company’s quarterly revenue was down 43.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Equity Commonwealth will post 0.16 earnings per share for the current fiscal year.

Separately, Zacks Investment Research upgraded Equity Commonwealth from a “sell” rating to a “hold” rating in a research note on Wednesday, April 21st.

A number of institutional investors have recently bought and sold shares of EQC. Dean Investment Associates LLC raised its stake in shares of Equity Commonwealth by 71.3% in the first quarter. Dean Investment Associates LLC now owns 124,483 shares of the real estate investment trust’s stock worth $3,461,000 after purchasing an additional 51,804 shares during the last quarter. Victory Capital Management Inc. raised its position in Equity Commonwealth by 24.0% during the 1st quarter. Victory Capital Management Inc. now owns 70,063 shares of the real estate investment trust’s stock worth $1,948,000 after buying an additional 13,557 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Equity Commonwealth by 5.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 29,175 shares of the real estate investment trust’s stock valued at $811,000 after acquiring an additional 1,500 shares during the period. Nkcfo LLC purchased a new stake in shares of Equity Commonwealth in the 1st quarter valued at $10,307,000. Finally, Signaturefd LLC increased its stake in shares of Equity Commonwealth by 36.7% in the first quarter. Signaturefd LLC now owns 7,466 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 2,003 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

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. EQC's same property portfolio is comprised of 4 properties and 1.5 million square feet.

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