Equity Commonwealth (EQC) is Upgraded by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 32

Equity Commonwealth (EQC) was Upgraded by RBC Capital Mkts to ” Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 32 from a previous price target of $28 . Earlier the firm had a rating of “Underperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Sep 30, 2016.

Many Wall Street Analysts have commented on Equity Commonwealth. Equity Commonwealth was Upgraded by BofA/Merrill to ” Buy” on Aug 15, 2016.

On the company’s financial health, Equity Commonwealth reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.30. The company had revenue of $145.37 million for the quarter, compared to analysts expectations of $136.57 million. The company’s revenue was down -28.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.52 EPS.

Equity Commonwealth closed down -0.38 points or -1.22% at $30.68 with 7,70,665 shares getting traded on Tuesday. Post opening the session at $31.2, the shares hit an intraday low of $30.63 and an intraday high of $31.3 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, 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.

Equity Commonwealth

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