Algert Global LLC Buys 10,774 Shares of Equity Commonwealth (NYSE:EQC)

Algert Global LLC increased its stake in shares of Equity Commonwealth (NYSE:EQC) by 18.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,724 shares of the real estate investment trust’s stock after purchasing an additional 10,774 shares during the quarter. Algert Global LLC owned approximately 0.06% of Equity Commonwealth worth $1,333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HGI Capital Management LLC bought a new stake in shares of Equity Commonwealth in the 4th quarter valued at about $2,403,000. Dean Capital Management grew its holdings in Equity Commonwealth by 14.3% in the fourth quarter. Dean Capital Management now owns 98,143 shares of the real estate investment trust’s stock worth $1,884,000 after purchasing an additional 12,298 shares during the last quarter. Nebula Research & Development LLC increased its position in shares of Equity Commonwealth by 146.4% during the fourth quarter. Nebula Research & Development LLC now owns 67,259 shares of the real estate investment trust’s stock worth $1,291,000 after purchasing an additional 39,962 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Equity Commonwealth by 0.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,244,666 shares of the real estate investment trust’s stock valued at $23,898,000 after purchasing an additional 9,049 shares during the last quarter. Finally, First Affirmative Financial Network lifted its holdings in shares of 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 valued at $207,000 after purchasing an additional 775 shares during the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.

Equity Commonwealth Price Performance

Shares of EQC stock opened at $19.70 on Friday. The stock’s fifty day moving average price is $20.15 and its 200 day moving average price is $19.46. 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 $2.11 billion, a price-to-earnings ratio of 24.92 and a beta of 0.28.

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