Indaba Capital Management L.P. Purchases 2,000,000 Shares of Equity Commonwealth (NYSE:EQC)

Indaba Capital Management L.P. boosted its position in shares of Equity Commonwealth (NYSE:EQC) by 74.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,700,000 shares of the real estate investment trust’s stock after buying an additional 2,000,000 shares during the period. Equity Commonwealth accounts for approximately 40.0% of Indaba Capital Management L.P.’s portfolio, making the stock its biggest holding. Indaba Capital Management L.P.’s holdings in Equity Commonwealth were worth $93,530,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EQC. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Equity Commonwealth during the second quarter worth $27,000. CWM LLC grew its holdings in Equity Commonwealth by 29.3% during the third quarter. CWM LLC now owns 3,097 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 701 shares during the period. Van ECK Associates Corp grew its holdings in Equity Commonwealth by 25.6% during the third quarter. Van ECK Associates Corp now owns 3,103 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 632 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Equity Commonwealth by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,165 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 1,084 shares during the period. Finally, Blue Trust Inc. grew its holdings in Equity Commonwealth by 459.8% during the third quarter. Blue Trust Inc. now owns 4,551 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 3,738 shares during the period. Institutional investors and hedge funds own 96.00% of the company’s stock.

Equity Commonwealth Price Performance

EQC traded up $0.02 during trading on Tuesday, reaching $20.20. 60,823 shares of the stock were exchanged, compared to its average volume of 1,174,248. The business’s 50 day moving average price is $19.92 and its two-hundred day moving average price is $19.79. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 51.74 and a beta of 0.27. Equity Commonwealth has a 1 year low of $17.93 and a 1 year high of $21.00.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Equity Commonwealth from a “hold” rating to a “sell” rating in a research report on Friday, October 25th.

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.