Equity Commonwealth (NYSE:EQC) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its stake in Equity Commonwealth (NYSE:EQC) by 19.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,339 shares of the real estate investment trust’s stock after selling 3,140 shares during the period. Hsbc Holdings PLC’s holdings in Equity Commonwealth were worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EQC. Mirae Asset Global Investments Co. Ltd. boosted its stake in Equity Commonwealth by 1.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,845 shares of the real estate investment trust’s stock valued at $991,000 after acquiring an additional 569 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted 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 boosted 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 grew 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 buying an additional 775 shares during the last quarter. Finally, Covestor Ltd increased its position in Equity Commonwealth by 21.4% during the first quarter. Covestor Ltd now owns 7,083 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 1,250 shares during the period. 96.00% of the stock is owned by hedge funds and other institutional investors.

Equity Commonwealth Trading Down 0.1 %

Shares of NYSE EQC opened at $19.68 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of 24.94 and a beta of 0.28. Equity Commonwealth has a twelve month low of $17.93 and a twelve month high of $21.00. The stock has a 50 day moving average of $20.15 and a two-hundred day moving average of $19.46.

Equity Commonwealth announced that its board has approved a stock repurchase plan on Tuesday, June 18th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.