Victory Capital Management Inc. Purchases 218,204 Shares of Equity Commonwealth (NYSE:EQC)

Victory Capital Management Inc. lifted its position in shares of Equity Commonwealth (NYSE:EQC) by 31.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 913,902 shares of the real estate investment trust’s stock after purchasing an additional 218,204 shares during the period. Victory Capital Management Inc.’s holdings in Equity Commonwealth were worth $17,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Equity Commonwealth by 1.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,845 shares of the real estate investment trust’s stock worth $991,000 after buying an additional 569 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Equity Commonwealth by 0.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 66,508 shares of the real estate investment trust’s stock worth $1,256,000 after buying an additional 586 shares in the last quarter. First Affirmative Financial Network grew its position in Equity Commonwealth by 7.6% during the first 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Equity Commonwealth by 1.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 65,472 shares of the real estate investment trust’s stock worth $1,264,000 after buying an additional 960 shares in the last quarter. Finally, Covestor Ltd grew 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 in the last quarter. Institutional investors own 96.00% of the company’s stock.

Equity Commonwealth Price Performance

Shares of NYSE:EQC opened at $20.26 on Friday. The company has a market capitalization of $2.17 billion, a P/E ratio of 25.65 and a beta of 0.28. Equity Commonwealth has a 1 year low of $17.93 and a 1 year high of $21.00. The business’s 50 day simple moving average is $19.95 and its 200 day simple moving average is $19.33.

Equity Commonwealth announced that its Board of Directors has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is 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.