Atalan Capital Partners Lp buys $22,335,000 stake in Equity Commonwealth (EQC)

Equity Commonwealth (EQC) : Atalan Capital Partners Lp scooped up 25,000 additional shares in Equity Commonwealth during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 750,000 shares of Equity Commonwealth which is valued at $22,335,000.Equity Commonwealth makes up approximately 11.41% of Atalan Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Absolute Return Capital reduced its stake in EQC by selling 8,145 shares or 26.14% in the most recent quarter. The Hedge Fund company now holds 23,016 shares of EQC which is valued at $685,416. Equity Commonwealth makes up approx 0.04% of Absolute Return Capital’s portfolio.Proshare Advisors reduced its stake in EQC by selling 4,120 shares or 11.19% in the most recent quarter. The Hedge Fund company now holds 32,696 shares of EQC which is valued at $973,687. Equity Commonwealth makes up approx 0.01% of Proshare Advisors’s portfolio.First Trust Advisors Lp boosted its stake in EQC in the latest quarter, The investment management firm added 112,645 additional shares and now holds a total of 160,552 shares of Equity Commonwealth which is valued at $4,753,945. Equity Commonwealth makes up approx 0.01% of First Trust Advisors Lp’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in EQC in the latest quarter, The investment management firm added 354 additional shares and now holds a total of 6,092 shares of Equity Commonwealth which is valued at $182,455.

Equity Commonwealth opened for trading at $31.36 and hit $31.49 on the upside on Thursday, eventually ending the session at $31.44, with a gain of 0.48% or 0.15 points. The heightened volatility saw the trading volume jump to 9,97,172 shares. Company has a market cap of $3,947 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.

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

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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