Equity Commonwealth (NYSE:EQC) Sees Strong Trading Volume – Still a Buy?

Shares of Equity Commonwealth (NYSE:EQC) saw unusually-strong trading volume on Thursday . Approximately 2,616,602 shares were traded during trading, an increase of 166% from the previous session’s volume of 985,224 shares.The stock last traded at $19.80 and had previously closed at $19.96.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Equity Commonwealth from a “hold” rating to a “sell” rating in a research report on Friday, October 25th.

Equity Commonwealth Stock Up 1.6 %

The firm has a market capitalization of $2.15 billion, a PE ratio of 51.46 and a beta of 0.27. The company’s 50-day simple moving average is $19.93 and its 200 day simple moving average is $19.70.

Hedge Funds Weigh In On Equity Commonwealth

Several institutional investors and hedge funds have recently bought and sold shares of the company. Weiss Asset Management LP acquired a new stake in Equity Commonwealth in the third quarter worth about $76,849,000. Indaba Capital Management L.P. boosted its stake in Equity Commonwealth by 74.1% in the 3rd quarter. Indaba Capital Management L.P. now owns 4,700,000 shares of the real estate investment trust’s stock worth $93,530,000 after purchasing an additional 2,000,000 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in Equity Commonwealth by 27.5% during the 1st quarter. Burgundy Asset Management Ltd. now owns 3,658,928 shares of the real estate investment trust’s stock worth $69,081,000 after purchasing an additional 789,496 shares during the last quarter. Whitebox Advisors LLC acquired a new stake in shares of Equity Commonwealth during the first quarter worth $12,597,000. Finally, Stonehill Capital Management LLC acquired a new stake in Equity Commonwealth during the 3rd quarter worth about $13,035,000. 96.00% of the stock is owned by hedge funds and other institutional investors.

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. EQC's portfolio is comprised of four properties totaling 1.5 million square feet.