Equity Commonwealth (NYSE:EQC) Sees Unusually-High Trading Volume – Still a Buy?

Equity Commonwealth (NYSE:EQC) saw an uptick in trading volume on Thursday . 2,616,602 shares changed hands during mid-day 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.

Analysts Set New Price Targets

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

Equity Commonwealth Stock Down 1.0 %

The stock has a 50-day moving average of $19.94 and a 200 day moving average of $19.69. The company has a market capitalization of $2.12 billion, a PE ratio of 51.18 and a beta of 0.27.

Institutional Investors Weigh In On Equity Commonwealth

Several large investors have recently made changes to their positions in the business. Verition Fund Management LLC grew its stake in shares of Equity Commonwealth by 1,142.3% during the 3rd quarter. Verition Fund Management LLC now owns 214,522 shares of the real estate investment trust’s stock worth $4,269,000 after acquiring an additional 197,254 shares during the period. Martingale Asset Management L P grew its position in shares of Equity Commonwealth by 8.0% in the third quarter. Martingale Asset Management L P now owns 191,686 shares of the real estate investment trust’s stock valued at $3,815,000 after purchasing an additional 14,191 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Equity Commonwealth by 117.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 384,954 shares of the real estate investment trust’s stock valued at $7,661,000 after purchasing an additional 208,208 shares during the period. BNP Paribas Financial Markets lifted its holdings in Equity Commonwealth by 143.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 172,970 shares of the real estate investment trust’s stock worth $3,442,000 after purchasing an additional 101,829 shares in the last quarter. Finally, FMR LLC lifted its holdings in Equity Commonwealth by 75.5% during the 3rd quarter. FMR LLC now owns 187,174 shares of the real estate investment trust’s stock worth $3,725,000 after purchasing an additional 80,541 shares in the last quarter. 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.