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Equity Commonwealth (EQC)

Equity Commonwealth is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. EQC’s same property portfolio is comprised of 4 properties and 1.5 million square feet.

Company profile

Ticker
EQC, EQC-PD
Exchange
Website
CEO
David Helfand
Employees
Incorporated
Location
Fiscal year end
Former names
CommonWealth REIT, HEALTH & REHABILITATION PROPERTIES TRUST, HEALTH & RETIREMENT PROPERTIES TRUST, HRPT PROPERTIES TRUST
SEC CIK
Subsidiaries
EQC 600 West Chicago Property LLC • EQC 625 Crane Property LLC • EQC Capitol Tower Property LLC • EQC Herald Square Property LLC • EQC Industrial Properties LLC • EQC Securities LLC • EQC TRS, Inc. • Equity Commonwealth LLC • Equity Commonwealth Management LLC ...
IRS number
46558834

EQC stock data

Calendar

4 May 22
2 Jul 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.72B 2.72B 2.72B 2.72B 2.72B 2.72B
Cash burn (monthly) 26.36M 20.76M (no burn) 415.75K (no burn) (no burn)
Cash used (since last report) 80.82M 63.66M n/a 1.27M n/a n/a
Cash remaining 2.64B 2.66B n/a 2.72B n/a n/a
Runway (months of cash) 100.2 128.0 n/a 6544.0 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
21 Jun 22 Ellen-Blair Chube Common Shares of Beneficial Interest Grant Acquire A No No 0 3,604 0 9,831
21 Jun 22 Linneman Peter Common Shares of Beneficial Interest Grant Acquire A No No 0 3,604 0 37,413
21 Jun 22 Star James A Common Shares of Beneficial Interest Grant Acquire A No No 0 3,604 0 73,535
21 Jun 22 Spector Gerald A Common Shares of Beneficial Interest Grant Acquire A No No 0 3,604 0 33,520
21 Jun 22 Edelman Martin L LTIP Units Common Shares of Beneficial Interest Grant Acquire A No No 0 3,604 0 3,604
98.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 242 249 -2.8%
Opened positions 29 39 -25.6%
Closed positions 36 42 -14.3%
Increased positions 70 82 -14.6%
Reduced positions 113 93 +21.5%
13F shares Current Prev Q Change
Total value 3.13B 2.83B +10.5%
Total shares 110.89M 109.53M +1.2%
Total puts 25.2K 37.9K -33.5%
Total calls 20.6K 10.8K +90.7%
Total put/call ratio 1.2 3.5 -65.1%
Largest owners Shares Value Change
Vanguard 18.09M $510.33M -2.4%
Nuance Investments 13.67M $385.52M -0.7%
TROW T. Rowe Price 11.65M $328.56M -0.5%
BLK Blackrock 10.59M $298.72M -13.0%
STT State Street 5.67M $159.82M +9.2%
FMR 5.46M $154.02M +19.6%
Segall Bryant & Hamill 4.26M $120.1M NEW
Ariel Investments 2.91M $81.96M +43.6%
Chai Trust 2.58M $72.9M 0.0%
Geode Capital Management 2.22M $62.59M -2.1%
Largest transactions Shares Bought/sold Change
Segall Bryant & Hamill 4.26M +4.26M NEW
BLK Blackrock 10.59M -1.58M -13.0%
Norges Bank 0 -1M EXIT
FMR 5.46M +894K +19.6%
Cramer Rosenthal MCGLYNN 887.15K +887.15K NEW
Ariel Investments 2.91M +881.7K +43.6%
Balyasny Asset Management 123.84K -597.88K -82.8%
Port Capital 0 -531.79K EXIT
BK Bank Of New York Mellon 642.08K -486.26K -43.1%
STT State Street 5.67M +475.76K +9.2%

Financial report summary

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Risks
  • The number of our common shares available for future issuance or sale could adversely affect the per share trading price of our common shares and may be dilutive to current shareholders.
Management Discussion
  • (1)Comparable properties consist of four properties we owned continuously from January 1, 2020 to December 31, 2021.
  • (2)Other properties consist of properties sold.
  • (3)We define net operating income, or NOI, as income from our real estate including lease termination fees received from tenants less our property operating expenses.  NOI excludes amortization of capitalized tenant improvement costs and leasing commissions and corporate level expenses.  For a discussion of why we consider NOI to be an appropriate supplemental measure to net income as well as a reconciliation of NOI to net income, the most directly comparable financial measure under GAAP reported on our consolidated financial statements, please see “Liquidity and Capital Resources - Property Net Operating Income (NOI).”

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: forward, garage, payroll, refund, reserved, thereof, Thompson, Wunderman
Removed: ASC, Codification, comprehensive, consideration, consultant, deferred, document, dramatic, East, enforceable, expedient, FASB, franchise, gain, guidance, independent, individually, largely, lessor, meeting, MNR, mortgage, par, policy, practical, repayment, sale, Senior, September, strategic, Street, Topic, transaction, transfer, treat, unchanged, uncollectible, vast, York