Rs Investment Management Co Lowers stake in Equity Commonwealth (EQC)

Equity Commonwealth (EQC) : Rs Investment Management Co reduced its stake in Equity Commonwealth by 16.12% during the most recent quarter end. The investment management company now holds a total of 4,085,905 shares of Equity Commonwealth which is valued at $119,798,735 after selling 785,442 shares in Equity Commonwealth , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Equity Commonwealth makes up approximately 1.17% of Rs Investment Management Co’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc sold out all of its stake in EQC during the most recent quarter. The investment firm sold 524,207 shares of EQC which is valued $15,369,749.Daiwa Securities Group boosted its stake in EQC in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 4,575 shares of Equity Commonwealth which is valued at $134,139.New York State Teachers Retirement System reduced its stake in EQC by selling 100 shares or 0.88% in the most recent quarter. The Hedge Fund company now holds 11,200 shares of EQC which is valued at $329,840.Shinko Asset Management Ltd. reduced its stake in EQC by selling 2,550 shares or 29.82% in the most recent quarter. The Hedge Fund company now holds 6,000 shares of EQC which is valued at $176,700.Bnp Paribas Arbitrage Sa reduced its stake in EQC by selling 1,612 shares or 7.39% in the most recent quarter. The Hedge Fund company now holds 20,208 shares of EQC which is valued at $592,903.

Equity Commonwealth opened for trading at $29.77 and hit $30.05 on the upside on Friday, eventually ending the session at $30.02, with a gain of 1.35% or 0.4 points. The heightened volatility saw the trading volume jump to 16,15,556 shares. Company has a market cap of $3,768 M.

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 (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.

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