Sei Investments Co. Has $1.51 Million Stake in Equity Commonwealth (NYSE:EQC)

Sei Investments Co. reduced its holdings in Equity Commonwealth (NYSE:EQC) by 32.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,924 shares of the real estate investment trust’s stock after selling 37,114 shares during the quarter. Sei Investments Co.’s holdings in Equity Commonwealth were worth $1,512,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in Equity Commonwealth during the 2nd quarter valued at $3,463,000. Nebula Research & Development LLC lifted its stake in shares of Equity Commonwealth by 146.4% in the fourth quarter. Nebula Research & Development LLC now owns 67,259 shares of the real estate investment trust’s stock valued at $1,291,000 after buying an additional 39,962 shares during the period. Empowered Funds LLC acquired a new stake in Equity Commonwealth during the first quarter worth about $2,162,000. BNP Paribas Financial Markets increased its stake in Equity Commonwealth by 103.1% during the first quarter. BNP Paribas Financial Markets now owns 66,068 shares of the real estate investment trust’s stock valued at $1,247,000 after acquiring an additional 33,542 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in Equity Commonwealth by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 65,417 shares of the real estate investment trust’s stock valued at $1,269,000 after acquiring an additional 47,898 shares in the last quarter. 96.00% of the stock is currently owned by institutional investors.

Equity Commonwealth Price Performance

Shares of EQC stock opened at $19.68 on Friday. Equity Commonwealth has a one year low of $17.93 and a one year high of $21.00. The stock has a fifty day moving average price of $20.15 and a 200 day moving average price of $19.46. The stock has a market cap of $2.11 billion, a P/E ratio of 24.91 and a beta of 0.28.

Equity Commonwealth announced that its board has authorized a share buyback plan on Tuesday, June 18th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership 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.