Inspire Investing LLC Cuts Stock Holdings in Equity Commonwealth (NYSE:EQC)

Inspire Investing LLC lowered its stake in Equity Commonwealth (NYSE:EQC) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,159 shares of the real estate investment trust’s stock after selling 770 shares during the period. Inspire Investing LLC’s holdings in Equity Commonwealth were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EQC. Norges Bank purchased a new position in Equity Commonwealth in the 4th quarter worth approximately $16,834,000. Burgundy Asset Management Ltd. increased its stake in shares of Equity Commonwealth by 3.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,869,432 shares of the real estate investment trust’s stock worth $55,093,000 after buying an additional 102,254 shares during the period. HGI Capital Management LLC bought a new stake in Equity Commonwealth during the 4th quarter valued at $2,403,000. Dean Capital Management boosted its position in Equity Commonwealth by 14.3% during the 4th quarter. Dean Capital Management now owns 98,143 shares of the real estate investment trust’s stock valued at $1,884,000 after buying an additional 12,298 shares during the period. Finally, Nebula Research & Development LLC grew its stake in shares of Equity Commonwealth by 146.4% in the fourth quarter. Nebula Research & Development LLC now owns 67,259 shares of the real estate investment trust’s stock worth $1,291,000 after purchasing an additional 39,962 shares during the last quarter. Institutional investors own 96.00% of the company’s stock.

Equity Commonwealth Trading Down 3.0 %

Shares of Equity Commonwealth stock opened at $19.77 on Monday. Equity Commonwealth has a 12-month low of $17.93 and a 12-month high of $21.00. The company has a market cap of $2.12 billion, a P/E ratio of 25.03 and a beta of 0.28. The company’s fifty day simple moving average is $20.08 and its two-hundred day simple moving average is $19.41.

Equity Commonwealth declared that its board has initiated a share buyback program on Tuesday, June 18th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

About Equity Commonwealth

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.