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

Point72 Asia Singapore Pte. Ltd. trimmed its position in Equity Commonwealth (NYSE:EQC) by 88.1% in the second quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Equity Commonwealth by 1.2% in 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 last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in 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 acquiring an additional 586 shares during the period. Arizona State Retirement System boosted its position in Equity Commonwealth by 2.1% in the second 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 during the last quarter. First Affirmative Financial Network boosted its position in Equity Commonwealth by 7.6% in the first 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 during the last quarter. Finally, Covestor Ltd grew its stake 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. Hedge funds and other institutional investors own 96.00% of the company’s stock.

Equity Commonwealth Price Performance

NYSE EQC opened at $19.82 on Wednesday. The business’s fifty day moving average is $20.14 and its 200-day moving average is $19.45. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 25.08 and a beta of 0.28. Equity Commonwealth has a one year low of $17.93 and a one year high of $21.00.

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