Equity Commonwealth reports Q2 normalized FFO 3c, consensus 11c » 16:3107/2907/29/20
Reports Q2 revenue…
Reports Q2 revenue $16.27M, consensus $18.69M. Same property NOI decreased 23.9% when compared to the same period in 2019. The decline was largely due to lease termination fees received in 2019 and lower parking revenue due to COVID-19.
|Over a month ago|
Equity Commonwealth reports May contractual rent collection 96% » 16:2706/0106/01/20
In a regulatory 8-K…
In a regulatory 8-K filing, the company states: "On May 29, 2020, Equity Commonwealth sold the Georgetown-Green and Harris buildings, a 240,000 square foot office property in Washington, D.C., for $85 million. The property was held for sale as of March 31, 2020. Equity Commonwealth has collected 96% of May contractual rents, including 3% from the application of security deposits and letters of credits, from its four-property, 1.5 million square foot portfolio."
|Over a quarter ago|
Equity Commonwealth announces $150M share repurchase authorization » 16:1503/1003/10/20
Equity Commonwealth announced that its Board of Trustees authorized the repurchase of an additional $150M of its outstanding common shares over the next 12 months under the company's existing share repurchase program. The prior $150M authorization will expire on March 13, 2020.
Equity Commonwealth reports Q4 FFO 16c, two estimates 19c » 16:2802/1202/12/20
Reports Q4 revenue $26M,…
Reports Q4 revenue $26M, one estimate $26.18M.
Fly Intel: Top five analyst downgrades » 10:0608/1408/14/19
AVDR, MYGN, PEGI, AAP, EQC
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Avedro (AVDR) downgraded to Neutral from Overweight at JPMorgan with analyst Robbie Marcus saying another suitor emerging to compete with Glaukos's (GKOS) buyout offer is unlikely. 2. Myriad Genetics (MYGN) downgraded to Neutral from Overweight at Piper Jaffray with analyst William Quirk saying the company reported "disappointing" fiscal Q4 results with revenue, adjusted earnings and FY20 guidance well below consensus. 3. Pattern Energy (PEGI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Neil Kalton saying after the company confirmed it has drawn interest from third parties, the analyst believes Pattern's current valuation reflects some amount of a takeout premium. 4. Advance Auto Parts (AAP) downgraded to Neutral from Buy at Guggenheim with analyst Ali Faghri citing the company's weaker than expected Q2 results and sees risk to its fiscal 2019 guidance. 5. Equity Commonwealth (EQC) downgraded to Market Perform at JMP Securities with analyst Mitch Germain citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Equity Commonwealth downgraded to Market Perform from Outperform at JMP Securities » 06:2508/1408/14/19
As previously reported,…
As previously reported, JMP Securities analyst Mitch Germain downgraded Equity Commonwealth to Market Perform on valuation, with shares trading above his prior $34 price target. The analyst also attributes the rating change to the company's "shift in posture" toward dispositions with no assets programmed for sale at this time. Germain adds that there is limited upside to the stock at current level, with current valuation above his net asset asset value estimate and property growth expected to be impacted by tenant contractions.
Equity Commonwealth downgraded to Market Perform at JMP Securities » 05:2708/1408/14/19
JMP Securities analyst…
JMP Securities analyst Mitchell Germain downgraded Equity Commonwealth to Market Perform from Outperform.