Hawk Ridge Capital Management Lp adds Equity Commonwealth (EQC) to its portfolio

Equity Commonwealth (EQC) : Hawk Ridge Capital Management Lp added new position in Equity Commonwealth during the most recent quarter end. The investment management firm now holds 265,340 shares of Equity Commonwealth which is valued at $7,901,825 , the company said in a statement filed on Aug 15, 2016 with the SEC.Equity Commonwealth makes up approximately 4.44% of Hawk Ridge Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Bluecrest Capital Management Ltd boosted its stake in EQC in the latest quarter, The investment management firm added 58,579 additional shares and now holds a total of 310,013 shares of Equity Commonwealth which is valued at $9,232,187. Equity Commonwealth makes up approx 0.76% of Bluecrest Capital Management Ltd’s portfolio. Security Capital Research Management Inc added EQC to its portfolio by purchasing 762,875 company shares during the most recent quarter which is valued at $22,718,418. Equity Commonwealth makes up approx 0.75% of Security Capital Research Management Inc’s portfolio. Kanaly Trust Co added EQC to its portfolio by purchasing 46 company shares during the most recent quarter which is valued at $1,355.

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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