Equity CommonwealthNYSE: EQC

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) today announced that its Board of Trustees authorized the repurchase, from July 1, 2024 through June 30, 2025, of up to an additional $150 million of its outstanding common shares under the company's existing share repurchase program. The company still has $93 million remaining under its prior authorization that expires on June 30, 2024. Year-to-date through June 18, 2024 the company has not repurchased any shares. Purchases made pursuan.

By the end of the year, management will announce either a transformative acquisition or the wind down of the business. If the business winds down, an investment in the company's preferred shares might offer an opportunity for risk-free returns. An investment below the preferred share liquidation value of $25.00 offers limited downside.

Equity Commonwealth is an Office REIT owning just 4 office buildings but with a $2.17 billion cash pile. The company's portfolio has a leased rate of only 75.4%. Despite lower cash basis NOI, normalized FFO increased 13% Y/Y due to higher interest income.

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) announced today that the company will release its first quarter 2024 operating results on Wednesday, May 1, 2024, after the close of trading. A conference call to discuss those results will be held on Thursday, May 2, 2024, at 9:00 am Central Time. The conference call will be available via live audio webcast on the Investor Relations section of the company's website (www.eqcre.com). A replay of the audio webcast will also be available fo.

The hedge fund wants Equity Commonwealth to return cash to investors.

Equity Commonwealth (EQC) Q4 2023 Earnings Call Transcript

Equity Commonwealth (EQC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

EquityCommonwealth (NYSE:EQC ) Q3 2023 Earnings Conference Call October 31, 2023 10:00 AM ET Company Participants David Helfand - Chair of Board, President and Chief Executive Officer Dave Weinberg - Chief Operating Officer Bill Griffiths - Chief Financial Officer Operator Good morning and thanks for joining this call to discuss Equity Commonwealth's Results for the quarter ending September 30, 2023 and provide an update on the company. [Operator Instructions] As a reminder, this conference is being recorded.

Office market is bearish with little signs of recovery, creating valuation mismatches and opportunities. Equity Commonwealth has sold down office assets and now has negative enterprise value, with plenty of cash to allocate at attractive valuations. EQC is sitting on a unique opportunity and if executed correctly it can deliver optimal value to shareholders for years to come.