Welcome to our dedicated page for Equity Commonwealth news (Ticker: EQC), a resource for investors and traders seeking the latest updates and insights on Equity Commonwealth stock.
Equity Commonwealth (NYSE: EQC) is a Chicago-based, internally managed, and self-advised real estate investment trust (REIT) with a focus on commercial office properties across the United States. With a portfolio comprising 15 properties and 7.1 million square feet, EQC stands out in the real estate sector.
EQC’s core business involves the acquisition, ownership, and operation of office buildings located in key urban areas like Washington, Austin, and Denver. The company's income is predominantly generated from rental revenue obtained from tenants occupying these office spaces.
Equity Commonwealth prides itself on a corporate culture built on accountability and alignment with stakeholders. The company's guiding principles emphasize using good judgment, keeping commitments, teamwork, transparency, and rewarding outstanding performance. It fosters open communication and celebrates diversity among its workforce.
Recent achievements highlight EQC’s commitment to value creation and operational excellence. The company's strategic focus is reflected in its well-maintained and strategically located office properties, ensuring maximum value for both tenants and investors.
For career opportunities, Equity Commonwealth encourages interested candidates to visit their official career portal at this link.
Equity Commonwealth (NYSE: EQC) reported a net loss of $4.8 million, or $0.04 per diluted share, for Q3 2021, compared to a loss of $1.6 million, or $0.01 per diluted share, in Q3 2020. Funds from Operations (FFO) were negative $0.3 million, a decline from $3.3 million in the prior year. Same property NOI decreased by 20.7%, and cash NOI fell by 9.6%. The portfolio was 82.5% leased, down from 83.1% in Q2 2021. Notably, the company terminated a merger with Monmouth Real Estate and repurchased shares totaling $26.8 million year-to-date.
Equity Commonwealth (NYSE: EQC) has declared a quarterly dividend of
Equity Commonwealth (NYSE: EQC) will release its third quarter 2021 operating results on October 27, 2021, after trading closes. A conference call to discuss these results is scheduled for October 28, 2021, at 9:00 am Central Time. Investors can access the call via a live audio webcast on the company’s website, with a replay available afterward. Equity Commonwealth is a Chicago-based REIT with a portfolio of 4 commercial office properties totaling 1.5 million square feet.
Equity Commonwealth (NYSE: EQC) announced the termination of its merger agreement with Monmouth Real Estate Investment Corporation (NYSE: MNR) after Monmouth failed to secure shareholder approval. Although EQC expressed disappointment, it noted the efforts of its team during the process. The merger's termination allows EQC to seek reimbursement for fees and expenses related to the agreement. EQC's portfolio includes four commercial properties totaling 1.5 million square feet across the United States.
Equity Commonwealth (NYSE: EQC) has amended its merger agreement with Monmouth Real Estate Investment Corporation (NYSE: MNR) to offer a total value of $19.00 per share, a mix of cash and stock. The transaction is valued at $3.4 billion, including $857 million in mortgage debt. The revised offer increases the stock exchange ratio to 0.713x, representing a 6.4% premium over the previous offer. Shareholders can elect to receive cash or stock, with proration if cash exceeds $641 million. Shareholders are encouraged to vote promptly as the deal is expected to close on September 9, 2021.
Equity Commonwealth (NYSE: EQC) reported a net loss of $3.9 million, or $0.03 per diluted share, for Q2 2021, a significant drop from a net income of $25.8 million, or $0.21 per diluted share, in Q2 2020. This decline was attributed to decreased gains from property sales. The Funds from Operations (FFO) were $0.4 million, down from $3.1 million year-over-year. Same property leases fell to 83.1%, compared to 90.1% in Q2 2020, and cash NOI saw a 12.8% decrease. The merger with Monmouth Real Estate is progressing, offering prospects for future growth.
Equity Commonwealth (NYSE: EQC) has declared a quarterly dividend of $0.40625 per Series D Preferred Share, set for payment on August 16, 2021. This dividend will benefit shareholders of record as of July 30, 2021, covering the period from May 15, 2021, to August 14, 2021. Equity Commonwealth is a real estate investment trust based in Chicago, managing a portfolio of four commercial office properties totaling 1.5 million square feet.
Equity Commonwealth (NYSE: EQC) will announce its second quarter 2021 operating results on July 28, 2021, after market close. A conference call to discuss these results is scheduled for July 29, 2021, at 9:00 AM Central Time, accessible via the company's Investor Relations website. Equity Commonwealth is a Chicago-based REIT focused on commercial office properties, managing a portfolio of four properties totaling 1.5 million square feet.
Equity Commonwealth (EQC) and Monmouth Real Estate Investment Corporation (MNR) have announced a definitive merger agreement, with EQC acquiring MNR in an all-stock transaction valued at approximately $3.4 billion. Monmouth shareholders will receive 0.67 shares of EQC stock for each share of MNR, equating to about $19.58 per share post-transaction. The merger, expected to close in the second half of 2021, will create a combined company with an estimated market capitalization of $5.5 billion, enhancing EQC's industrial asset portfolio and cash flow stability.
Equity Commonwealth (NYSE: EQC) reported a net loss of $12 million, or $0.10 per diluted share, for Q1 2021, a sharp decline from a net income of $422.8 million in Q1 2020. The drop in net income was chiefly due to reduced gains from property sales and lower interest income. Contractual rent collection was robust at 97%. Funds from Operations (FFO) were ($7.7) million, compared to $8.8 million a year prior. Same property NOI decreased by 7.4%, attributed to lower parking revenue. Notably, Adam Markman resigned as CFO, incurring $3.7 million in severance costs.
FAQ
What is the current stock price of Equity Commonwealth (EQC)?
What is the market cap of Equity Commonwealth (EQC)?
What type of properties does Equity Commonwealth invest in?
Where are Equity Commonwealth’s properties located?
What is the main source of income for Equity Commonwealth?
What are the core values of Equity Commonwealth?
How many properties does Equity Commonwealth own?
What is the total square footage of Equity Commonwealth’s portfolio?
What is the corporate culture like at Equity Commonwealth?
How can I apply for a job at Equity Commonwealth?
Is Equity Commonwealth internally managed?
How does Equity Commonwealth ensure value creation?
