ProShare Advisors LLC Lowers Holdings in Equity Commonwealth (NYSE:EQC)

ProShare Advisors LLC trimmed its holdings in Equity Commonwealth (NYSE:EQC) by 25.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,683 shares of the real estate investment trust’s stock after selling 4,671 shares during the period. ProShare Advisors LLC’s holdings in Equity Commonwealth were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Burgundy Asset Management Ltd. lifted its position in shares of Equity Commonwealth by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 3,709,792 shares of the real estate investment trust’s stock worth $71,970,000 after buying an additional 50,864 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Equity Commonwealth during the second quarter valued at approximately $1,712,000. Quest Partners LLC grew its stake in shares of Equity Commonwealth by 63,559.6% during the second quarter. Quest Partners LLC now owns 29,920 shares of the real estate investment trust’s stock valued at $580,000 after buying an additional 29,873 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Equity Commonwealth by 2.1% during the second quarter. Arizona State Retirement System now owns 29,952 shares of the real estate investment trust’s stock valued at $581,000 after buying an additional 625 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Equity Commonwealth by 31.4% during the second quarter. Victory Capital Management Inc. now owns 913,902 shares of the real estate investment trust’s stock valued at $17,730,000 after buying an additional 218,204 shares during the last quarter. 96.00% of the stock is currently owned by hedge funds and other institutional investors.

Equity Commonwealth Stock Performance

EQC opened at $19.68 on Friday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 24.91 and a beta of 0.28. The stock’s 50 day moving average price is $20.15 and its 200-day moving average price is $19.46. Equity Commonwealth has a one year low of $17.93 and a one year high of $21.00.

Equity Commonwealth declared that its board has approved a share repurchase plan on Tuesday, June 18th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Equity Commonwealth Company Profile

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.