Richmond Hill Investments Exits Position in Equity Commonwealth (EQC)

Equity Commonwealth (EQC) : Richmond Hill Investments has sold out all of its stake in Equity Commonwealth during the most recent quarter, according to the disclosure filed by the company on May 13, 2016 with the SEC. The investment management company has sold out 822,140 shares of Equity Commonwealth which is valued at $23 Million.

Other Hedge Funds, Including , Keeley Asset Management Corp boosted its stake in EQC in the latest quarter, The investment management firm added 162,150 additional shares and now holds a total of 391,955 shares of Equity Commonwealth which is valued at $11 Million. Equity Commonwealth makes up approx 0.42% of Keeley Asset Management Corp’s portfolio.Jefferies Group reduced its stake in EQC by selling 750 shares or 4.14% in the most recent quarter. The Hedge Fund company now holds 17,372 shares of EQC which is valued at $485,547. Equity Commonwealth makes up approx 0.02% of Jefferies Group’s portfolio.Rs Investment Management Co boosted its stake in EQC in the latest quarter, The investment management firm added 190,879 additional shares and now holds a total of 4,871,347 shares of Equity Commonwealth which is valued at $136.2 Million. Equity Commonwealth makes up approx 1.36% of Rs Investment Management Co’s portfolio.Oxford Asset Management boosted its stake in EQC in the latest quarter, The investment management firm added 28,011 additional shares and now holds a total of 44,369 shares of Equity Commonwealth which is valued at $1.2 Million. Equity Commonwealth makes up approx 0.05% of Oxford Asset Management’s portfolio.Quantbot Technologies Lp boosted its stake in EQC in the latest quarter, The investment management firm added 2,891 additional shares and now holds a total of 9,075 shares of Equity Commonwealth which is valued at $253,283. Equity Commonwealth makes up approx 0.04% of Quantbot Technologies Lp’s portfolio.

Equity Commonwealth opened for trading at $28.7 and hit $28.81 on the upside on Wednesday, eventually ending the session at $28.71, with a gain of 0.45% or 0.13 points. The heightened volatility saw the trading volume jump to 21,93,750 shares. Company has a market cap of $3,603 M.

On the company’s financial health, Equity Commonwealth reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.26. The company had revenue of $137.14 million for the quarter, compared to analysts expectations of $136.40 million. The company’s revenue was down -35.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.55 EPS.

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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