Point72 Asia Singapore Pte. Ltd. Sells 10,398 Shares of Equity Commonwealth (NYSE:EQC)

Point72 Asia Singapore Pte. Ltd. lowered its stake in Equity Commonwealth (NYSE:EQC) by 88.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,404 shares of the real estate investment trust’s stock after selling 10,398 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Equity Commonwealth were worth $27,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Equity Commonwealth by 1.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,845 shares of the real estate investment trust’s stock worth $991,000 after buying an additional 569 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Equity Commonwealth by 0.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 66,508 shares of the real estate investment trust’s stock worth $1,256,000 after purchasing an additional 586 shares during the period. Arizona State Retirement System lifted its holdings in shares of Equity Commonwealth by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 29,952 shares of the real estate investment trust’s stock worth $581,000 after purchasing an additional 625 shares in the last quarter. First Affirmative Financial Network lifted its holdings in shares of Equity Commonwealth by 7.6% in the 1st quarter. First Affirmative Financial Network now owns 10,972 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 775 shares in the last quarter. Finally, Covestor Ltd grew its position in Equity Commonwealth by 21.4% in the 1st quarter. Covestor Ltd now owns 7,083 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 1,250 shares during the period. Institutional investors own 96.00% of the company’s stock.

Equity Commonwealth Trading Down 0.4 %

EQC opened at $19.82 on Wednesday. Equity Commonwealth has a 1-year low of $17.93 and a 1-year high of $21.00. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 25.08 and a beta of 0.28. The company’s fifty day moving average price is $20.14 and its two-hundred day moving average price is $19.45.

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