Equity Commonwealth (NYSE:EQC) Rating Lowered to Market Perform at JMP Securities

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JMP Securities downgraded shares of Equity Commonwealth (NYSE:EQC) from an outperform rating to a market perform rating in a research note released on Wednesday, BenzingaRatingsTable reports.

Several other equities research analysts have also commented on the stock. TheStreet raised shares of Equity Commonwealth from a c+ rating to a b rating in a report on Tuesday, April 30th. Zacks Investment Research raised shares of Equity Commonwealth from a hold rating to a strong-buy rating and set a $37.00 price target for the company in a report on Tuesday, July 23rd.

Shares of NYSE EQC opened at $34.04 on Wednesday. The firm has a market cap of $4.14 billion, a PE ratio of 42.46 and a beta of 0.25. The firm has a fifty day moving average of $33.32 and a 200 day moving average of $32.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 86.78 and a current ratio of 86.78. Equity Commonwealth has a one year low of $28.48 and a one year high of $34.53.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jackson Square Partners LLC increased its holdings in Equity Commonwealth by 3.8% in the 1st quarter. Jackson Square Partners LLC now owns 5,692,697 shares of the real estate investment trust’s stock worth $186,094,000 after acquiring an additional 210,251 shares in the last quarter. Nuance Investments LLC increased its holdings in Equity Commonwealth by 11.9% in the 2nd quarter. Nuance Investments LLC now owns 4,280,814 shares of the real estate investment trust’s stock worth $139,212,000 after acquiring an additional 455,196 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Equity Commonwealth by 1.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,913,986 shares of the real estate investment trust’s stock worth $62,243,000 after acquiring an additional 26,804 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Equity Commonwealth by 21.8% during the second quarter. APG Asset Management N.V. now owns 1,598,900 shares of the real estate investment trust’s stock worth $45,659,000 after buying an additional 286,700 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Equity Commonwealth by 119.3% during the first quarter. JPMorgan Chase & Co. now owns 1,148,154 shares of the real estate investment trust’s stock worth $37,533,000 after buying an additional 624,575 shares in the last quarter. 97.03% of the stock is owned by 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. As of December 31, 2018, EQC's portfolio comprised 10 properties and 5.1 million square feet.

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