Wallace Capital Management Inc. Sells 54,432 Shares of Equity Commonwealth (NYSE:EQC)

Wallace Capital Management Inc. cut its holdings in Equity Commonwealth (NYSE:EQC) by 10.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 475,818 shares of the real estate investment trust’s stock after selling 54,432 shares during the period. Equity Commonwealth accounts for approximately 1.3% of Wallace Capital Management Inc.’s portfolio, making the stock its 15th biggest holding. Wallace Capital Management Inc. owned 0.44% of Equity Commonwealth worth $9,469,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Indaba Capital Management L.P. increased its stake in shares of Equity Commonwealth by 74.1% in the third quarter. Indaba Capital Management L.P. now owns 4,700,000 shares of the real estate investment trust’s stock worth $93,530,000 after purchasing an additional 2,000,000 shares during the period. Weiss Asset Management LP bought a new position in Equity Commonwealth during the third quarter valued at about $76,849,000. Burgundy Asset Management Ltd. increased its stake in Equity Commonwealth by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 3,709,792 shares of the real estate investment trust’s stock valued at $71,970,000 after acquiring an additional 50,864 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Equity Commonwealth by 1.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,622,655 shares of the real estate investment trust’s stock valued at $32,291,000 after acquiring an additional 18,393 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Equity Commonwealth by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,491,407 shares of the real estate investment trust’s stock valued at $29,679,000 after acquiring an additional 64,180 shares during the period. 96.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Equity Commonwealth Trading Up 0.9 %

NYSE EQC opened at $20.33 on Friday. The stock’s 50 day moving average is $19.95 and its two-hundred day moving average is $19.80. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 52.13 and a beta of 0.27. Equity Commonwealth has a 1-year low of $17.93 and a 1-year high of $21.00.

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.