Equity Commonwealth (NYSE:EQC) Sees Significant Decrease in Short Interest

Equity Commonwealth (NYSE:EQC - Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,390,000 shares, a decline of 21.5% from the October 15th total of 1,770,000 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 1.3 days.

Equity Commonwealth Stock Performance

Shares of Equity Commonwealth stock traded up $0.31 on Friday, reaching $20.07. 4,900,096 shares of the company were exchanged, compared to its average volume of 1,110,455. Equity Commonwealth has a 1-year low of $17.93 and a 1-year high of $21.00. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 51.33 and a beta of 0.27. The company's 50-day moving average is $19.93 and its two-hundred day moving average is $19.69.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Equity Commonwealth from a "hold" rating to a "sell" rating in a research report on Friday, October 25th.

Institutional Investors Weigh In On Equity Commonwealth

Several large investors have recently added to or reduced their stakes in EQC. Vanguard Group Inc. lifted its stake in shares of Equity Commonwealth by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 16,255,061 shares of the real estate investment trust's stock worth $306,896,000 after acquiring an additional 60,382 shares during the period. Indaba Capital Management L.P. boosted its position in shares of 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 valued at $93,530,000 after purchasing an additional 2,000,000 shares during the period. Weiss Asset Management LP acquired a new position in shares of Equity Commonwealth in the third quarter worth about $76,849,000. Burgundy Asset Management Ltd. grew its position in Equity Commonwealth by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,709,792 shares of the real estate investment trust's stock worth $71,970,000 after purchasing an additional 50,864 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Equity Commonwealth by 0.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,718,940 shares of the real estate investment trust's stock worth $32,454,000 after acquiring an additional 7,837 shares during the last quarter. 96.00% of the stock is owned by institutional investors and hedge funds.

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.