Equity Commonwealth (EQC) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released 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 opened for trading at $29.69 and hit $30.03 on the upside on Friday, eventually ending the session at $29.78, with a gain of 0.30% or 0.09 points. The heightened volatility saw the trading volume jump to 4,85,217 shares. Company has a market cap of $3,738 M.
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.