Daiwa Securities Group Inc. Has $642,000 Stake in Equity Commonwealth (NYSE:EQC)

Daiwa Securities Group Inc. lowered its stake in Equity Commonwealth (NYSE:EQC) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,109 shares of the real estate investment trust’s stock after selling 826 shares during the period. Daiwa Securities Group Inc.’s holdings in Equity Commonwealth were worth $642,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of EQC. Norges Bank acquired a new stake in shares of Equity Commonwealth in the 4th quarter valued at $16,834,000. Burgundy Asset Management Ltd. increased its position in Equity Commonwealth by 27.5% in the first quarter. Burgundy Asset Management Ltd. now owns 3,658,928 shares of the real estate investment trust’s stock worth $69,081,000 after purchasing an additional 789,496 shares during the period. Whitebox Advisors LLC bought a new stake in Equity Commonwealth during the 1st quarter worth about $12,597,000. Boston Partners lifted its position in Equity Commonwealth by 299.1% during the 1st quarter. Boston Partners now owns 725,020 shares of the real estate investment trust’s stock valued at $13,686,000 after purchasing an additional 543,344 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Equity Commonwealth by 208.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 786,433 shares of the real estate investment trust’s stock valued at $14,848,000 after purchasing an additional 531,224 shares during the last quarter. Institutional investors own 96.00% of the company’s stock.

Equity Commonwealth Price Performance

Shares of NYSE:EQC opened at $20.31 on Tuesday. The company has a 50 day moving average of $20.00 and a 200-day moving average of $19.37. Equity Commonwealth has a one year low of $17.93 and a one year high of $21.00. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 25.71 and a beta of 0.28.

Equity Commonwealth declared that its board has authorized a share buyback plan on Tuesday, June 18th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Equity Commonwealth Profile

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.