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

NYSE

Website

www.eqcre.com

CEO

David Helfand

Incorporated

Maryland

Location

Illinois

Fiscal year end

Dec 31

Sector

Finance and Insurance > Other Financial Vehicles

Industry (SIC)

Real Estate Investment Trusts

Annaly Capital Management • AGNC Investment • VEREIT • Prologis • Vornado Realty • Vornado Realty Trust • Welltower • Healthpeak Properties • Erp Operating LTD Partnership • Equity Residential Properties Trust ...

Former names

CommonWealth REIT, HEALTH & REHABILITATION PROPERTIES TRUST, HEALTH & RETIREMENT PROPERTIES TRUST, HRPT PROPERTIES TRUST

SEC CIK

0000803649

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

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

1M 1Y 5Y

News

From Benzinga Pro

Equity Commonwealth Q1 EPS $(0.01), Same YoY, FFO $0.03

4 May 22

Equity Commonwealth (NYSE:EQC) reported quarterly losses of $(0.01) per share. This is unchanged from the same period last year.

Earnings Scheduled For May 4, 2022

4 May 22

Companies Reporting Before The Bell • Seres Therapeutics (NASDAQ:MCRB) is estimated to report quarterly loss at $0.52 per share on revenue of $8.48 million.

Press releases

From Benzinga Pro

Equity Commonwealth Announces Second Quarter 2022 Earnings Conference Call

28 Jun 22

Equity Commonwealth (NYSE:EQC) announced today that the company will release its second quarter 2022 operating results on Monday, August 1, 2022, after the close of trading. A conference call to discuss those results

Equity Commonwealth Reports First Quarter 2022 Results

4 May 22

Equity Commonwealth (NYSE:EQC) today reported financial results for the quarter ended March 31, 2022. Financial results for the quarter ended March 31, 2022 Net loss attributable to common shareholders was $0.7

Equity Commonwealth Declares Series D Preferred Dividend

11 Apr 22

Equity Commonwealth (NYSE:EQC) announced today that its Board of Trustees declared a dividend on the company's Series D Preferred Shares. A quarterly dividend of $0.40625 per Series D Preferred Share will be paid on May

Equity Commonwealth Announces First Quarter 2022 Earnings Conference Call

6 Apr 22

Calendar

4 May 22

2 Jul 22

31 Dec 22

Financial summary

Financial statements Chart EQC financial data

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

Financial data from company earnings reports.

Recent insider trades

EQC insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	#Shares	#Remaining
21 Jun 22	Ellen-Blair Chube	Common Shares of Beneficial Interest	Grant	Acquire A	No	No	3,604	9,831
21 Jun 22	Linneman Peter	Common Shares of Beneficial Interest	Grant	Acquire A	No	No	3,604	37,413
21 Jun 22	Star James A	Common Shares of Beneficial Interest	Grant	Acquire A	No	No	3,604	73,535
21 Jun 22	Spector Gerald A	Common Shares of Beneficial Interest	Grant	Acquire A	No	No	3,604	33,520
21 Jun 22	Edelman Martin L	LTIP Units Common Shares of Beneficial Interest	Grant	Acquire A	No	No	3,604	3,604

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

EQC institutional ownership history Ownership history

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%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

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

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

From filing 10-Q 2022 Q1

Financial reports

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