Equity Commonwealth

Equity Commonwealth operates as an internally managed and self-advised real estate investment trust. It engages in the ownership and operation of office properties. The company was founded by Barry M. Portnoy on October 9, 1986 and is headquartered in Chicago, IL.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

EQC excels in Q4 2022 earnings, eyes growth in real estate

EQC's strong financial performance in Q4 and full year 2022, coupled with a robust balance sheet and strategic investment focus, positions the company well for future growth.
While facing challenges in real estate credit markets, EQC remains optimistic about finding deals and creating long-term value for shareholders through proactive investment strategies.
With a lean team and a keen eye on shareholder value creation, EQC continues to evaluate opportunities in the commercial real estate market, particularly in industrial and single-family residential sectors.

Equity Commonwealth faces market challenges but maintains financial strength

Equity Commonwealth navigated challenging market conditions in Q1 2023, reporting declines in key financial metrics while maintaining a strong cash position and interest income generation.
The company's strategic focus on share buybacks, potential internal restructuring, and evaluating diverse investment opportunities underscores its commitment to enhancing shareholder value.
Despite market headwinds, Equity Commonwealth's prudent financial management and flexibility position it to capitalize on growth opportunities and navigate uncertainties in the commercial real estate sector.

Equity Commonwealth posts solid Q2 earnings amidst market challenges

Equity Commonwealth (EQC) reported strong FFO growth in Q2 2023 driven by interest income, while facing challenges in same-property NOI decline.
The company's robust financial position with no debt and significant cash reserves provides stability and flexibility for future investments.
Despite capital market constraints, EQC remains patient in seeking compelling investment opportunities and evaluating strategic asset classes for potential growth.

Equity Commonwealth navigates NOI decline with strong cash reserves

Equity Commonwealth faced challenges with declining NOI but maintained a strong cash position and active share buyback program.
The company's focus on industrial and residential sectors aligns with potential growth areas in the market.
Opportunities lie in qualifying as a REIT, strategic investments, and leveraging its cash reserves for future growth.

Equity Commonwealth reports mixed Q4 results amidst diversification focus

Equity Commonwealth's Q4 2023 performance showed improved Funds from Operations but faced challenges with declining same-property NOI and slow leasing activity.
The company's strengths lie in its strong financial position, remaining share buyback authorization, and strategic focus on diversification.
While challenges include operational performance and market dynamics, opportunities exist in value creation, sector diversification, and transactional strategies.

Equity Commonwealth reports solid Q1 earnings amidst strategic considerations

Equity Commonwealth's Q1 performance reflects stable operations with notable financial strength and successful dispositions.
While facing challenges in occupancy rates and potential wind-down considerations, the company maintains transparency and shareholder communication.
Opportunities lie in strategic transactions, operational enhancements, and leveraging financial resources for future growth and value creation.

Equity Commonwealth plans shareholder meetings and distributions amid wind-down

EQC's Q3 earnings call highlighted progress in the disposition process, with plans for shareholder meetings and distributions. Challenges in selling office buildings may impact the wind-down timeline, necessitating careful monitoring. The company's proactive approach to wind-down and strategic decisions regarding delisting and deregistration indicate a focus on maximizing shareholder value.

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Equity Commonwealth is an internally managed and self-advised real estate investment trust, which engages in the ownership and operation of office properties. It focuses on the investment, asset management, and operating decisions for shareholders and customers. The company was founded by Barry Michael Portnoy on October 9, 1986 and is headquartered in Chicago, IL.

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

Activist Investor Land & Buildings Urges Office Owner to Liquidate

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) today announced that its Annual Meeting of Shareholders will be held virtually on Tuesday, June 18, 2024 at 1:30 p.m. Central Time. Shareholders of record at the close of business on April 12, 2024 will be entitled to vote at the meeting. Details of the virtual annual meeting, including how stockholders can participate in the virtual meeting, vote and ask questions, will be included in the company's definitive proxy statement for the 202.

Equity Commonwealth Sets 2024 Virtual Annual Meeting of Shareholders

Equity Commonwealth (EQC) Q4 2023 Earnings Call Transcript

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) today reported financial results for the quarter and year ended December 31, 2023. Financial results for the quarter ended December 31, 2023 Net income attributable to common shareholders was $24.6 million, or $0.23 per diluted share, for the quarter ended December 31, 2023. This compares to net income attributable to common shareholders of $18.9 million, or $0.17 per diluted share, for the quarter ended December 31, 2022. The increase i.

Equity Commonwealth Reports Fourth Quarter and Full Year 2023 Results

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) today announced the tax treatment of its 2023 common and preferred share distributions, which is as follows: Common Stock (CUSIP No. 294628102) Record Date Payment Date Total Distribution per Share 2023 Taxable Ordinary Dividends 2023 Non-taxable Distribution (Return of Capital) 2023 Section 199A Dividends1 2/23/2023 3/09/2023 $ 4.25 $ 2.72 $ 1.53 $ 2.72 Series D Cumulative Convertible Preferred Stock (CUSIP No. 294628201)   Record Date.

Equity Commonwealth Announces Tax Treatment of 2023 Distributions

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) announced today that the company will release its fourth quarter and full year 2023 operating results on Monday, February 12, 2024, after the close of trading. A conference call to discuss those results will be held on Tuesday, February 13, 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 wi.

Equity Commonwealth Announces Fourth Quarter and Full Year 2023 Earnings Conference Call

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REITs offer attractive tax characteristics and higher yields compared to traditional stocks, making them appealing to income-oriented investors. Crown Castle, a telecom REIT, has invested heavily in fiber and small cell business, offering potential value for shareholders. Equity Commonwealth, an office REIT, has a unique portfolio with a large amount of cash and potential for upside through asset acquisition or liquidation.

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EQC is a cash box that is collecting high interest while it waits for an opportunity to deploy cash in possible forced selling opportunities in real estate. The book value is almost all cash and trades at a P/B below 0.9x, so cents on the dollar with their office RE coming for free. An opportunistic approach means there is an upside if they happen upon a buying opportunity, which becomes likelier by the day at very elevated current rates.

Equity Commonwealth: Sam Zell's Cash Box Comes With Free Offices Despite Possible RE Opportunities

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Realty Income's access to capital is proving to be a major competitive advantage. Equity Commonwealth is a REIT selling for less than the cash on the books.

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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).

All You Need to Know About Equity Commonwealth (EQC) Rating Upgrade to 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.

Equity Commonwealth (EQC) Q3 2023 Earnings Call Transcript

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) today reported financial results for the quarter ended September 30, 2023. Financial results for the quarter ended September 30, 2023 Net income attributable to common shareholders was $24.1 million, or $0.22 per diluted share, for the quarter ended September 30, 2023. This compares to net income attributable to common shareholders of $10.2 million, or $0.09 per diluted share, for the quarter ended September 30, 2022. The increase in net.

Equity Commonwealth Reports Third Quarter 2023 Results

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) announced today that the company will release its third quarter 2023 operating results on Monday, October 30, 2023, after the close of trading. A conference call to discuss those results will be held on Tuesday, October 31, 2023, 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 availa.

Equity Commonwealth Announces Third Quarter 2023 Earnings Conference Call

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.

Equity Commonwealth: REIT Trading At Negative EV Ready To Deploy Cash At Attractive Returns

Equity Commonwealth (NYSE:EQC ) Q2 2023 Earnings Conference Call July 27, 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 June 3, 2023 and provide an update on the company. [Operator Instructions] As a reminder, this conference is being recorded.

Equity Commonwealth (EQC) Q2 2023 Earnings Call Transcript

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) today reported financial results for the quarter ended June 30, 2023. Financial results for the quarter ended June 30, 2023 Net income attributable to common shareholders was $13.8 million, or $0.12 per diluted share, for the quarter ended June 30, 2023. This compares to net income attributable to common shareholders of $0.9 million, or $0.01 per diluted share, for the quarter ended June 30, 2022. The increase in net income was primarily.

Equity Commonwealth Reports Second Quarter 2023 Results

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) announced today that the company will release its second quarter 2023 operating results on Wednesday, July 26, 2023, after the close of trading. A conference call to discuss those results will be held on Thursday, July 27, 2023, 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 availab.

Equity Commonwealth Announces Second Quarter 2023 Earnings Conference Call

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The State Of REITs: June 2023 Edition

Office REITs have seen share prices drop between 14.8% and 28.9% this year due to a lack of demand caused by changes in working conditions. Office vacancy rates in the US have worsened, with 65% of the 200 largest areas reporting increases in vacancy rates since 2019. Investors should approach the office REIT market cautiously due to the potential for struggling REITs with high debt and difficulty finding tenants.

Further Downside For Office REITs Is In Store, But Equity Commonwealth Might Be An Exception

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Equity Commonwealth reported Q1 2023 financial results with a net income of $20.7 million, a significant improvement from a net loss of $0.7 million YoY. The office sector continues to grapple with challenges from the pandemic, despite signs of gradual recovery with increasing workplace attendance.

Equity Commonwealth: An Outperforming Office REIT With External Challenges

CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) announced today that its Board of Trustees (the “Board”) has named David Helfand to serve as the Chair of the Board, effective immediately. Mr. Helfand has served as the company's President and Chief Executive Officer since 2014 and will continue in those roles. The Board also reduced its size from 8 to 7 trustees. About Equity Commonwealth Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estat.

Equity Commonwealth Announces David Helfand as Chair of the Board of Trustees

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The new pariah of the commercial real estate sector, Office REITs, have remained in free-fall in recent months, plunging another 30% this year following a plunge of nearly 40% last year. Just how bad is it? The surge in interest rates has turned a weak-but-manageable situation into a bleak one, but there is more nuance than what the prevailing narrative would suggest.

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CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) announced today that Sam Zell, its Chairman of the Board of Trustees, died today due to complications from a recent illness. Sam served as our Chairman since we took responsibility for EQC in May 2014. Sam also served as the chairman of Equity Group Investments, the private investment firm he founded more than 50 years ago, and chaired two other companies listed on the New York Stock Exchange: Equity Residential and Equity LifeStyle Prop.

Equity Commonwealth Announces the Death of Sam Zell, Our Chairman

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