Revenue Update on Equity Commonwealth(NYSE:EQC)

Equity Commonwealth(NYSE:EQC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $145.37M. Analysts estimated a revenue of $136.57M. Earnings per share were $0.42. Analysts had estimated an EPS of $0.30.

Equity Commonwealth (EQC) shares turned negative on Thursdays trading session with the shares closing down -0.2 points or -0.67% at a volume of 7,73,074. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.05. The peak price level was also seen at $30.05 while the days lowest was $29.71. Finally the shares closed at $29.75. The 52-week high of the shares is $30.09 while the 52-week low is $25.17. According to the latest information available, the market cap of the company is $3,735 M.

Several Insider Transactions has been reported to the SEC. On Aug 10, 2015, Adam Scott Markman (CFO) purchased 4,500 shares at $27.21 per share price.

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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