Equity Commonwealth (NYSE:EQC) Shares Sold by Wallace Capital Management Inc.

Wallace Capital Management Inc. lessened its holdings in shares of Equity Commonwealth (NYSE:EQC) by 2.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 530,250 shares of the real estate investment trust’s stock after selling 16,060 shares during the quarter. Equity Commonwealth accounts for about 1.3% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Wallace Capital Management Inc.’s holdings in Equity Commonwealth were worth $10,287,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Equity Commonwealth during the 4th quarter valued at $16,834,000. Burgundy Asset Management Ltd. boosted its position 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 acquired a new stake in shares of Equity Commonwealth in the fourth quarter valued at about $2,403,000. Dean Capital Management raised its holdings in shares of 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 lifted its position in Equity Commonwealth by 146.4% during the 4th quarter. Nebula Research & Development LLC now owns 67,259 shares of the real estate investment trust’s stock worth $1,291,000 after acquiring an additional 39,962 shares in the last quarter. 96.00% of the stock is currently owned by hedge funds and other institutional investors.

Equity Commonwealth Stock Up 0.2 %

Shares of NYSE:EQC opened at $19.82 on Monday. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 25.09 and a beta of 0.28. The company has a 50 day moving average of $20.13 and a two-hundred day moving average of $19.44. Equity Commonwealth has a 52-week low of $17.93 and a 52-week high of $21.00.

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

Equity Commonwealth Company 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.