Daiwa Securities Group Inc. Sells 826 Shares of Equity Commonwealth (NYSE:EQC)

Daiwa Securities Group Inc. cut its stake in Equity Commonwealth (NYSE:EQC) by 2.4% in the second quarter, HoldingsChannel.com reports. The fund 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.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Equity Commonwealth by 1.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,845 shares of the real estate investment trust’s stock worth $991,000 after acquiring an additional 569 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Equity Commonwealth by 0.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 66,508 shares of the real estate investment trust’s stock valued at $1,256,000 after purchasing an additional 586 shares during the period. Arizona State Retirement System grew its position 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 valued at $581,000 after purchasing an additional 625 shares during the period. First Affirmative Financial Network increased its stake in Equity Commonwealth by 7.6% during 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, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Equity Commonwealth by 1.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 65,472 shares of the real estate investment trust’s stock worth $1,264,000 after buying an additional 960 shares during the period. 96.00% of the stock is owned by institutional investors.

Equity Commonwealth Stock Up 0.0 %

Equity Commonwealth stock 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 twelve month low of $17.93 and a twelve month high of $21.00. The stock has a market capitalization of $2.18 billion, a PE ratio of 25.71 and a beta of 0.28.

Equity Commonwealth declared that its board has initiated a share buyback program on Tuesday, June 18th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.