Company Quick10K Filing
Equity Commonwealth
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 126 $4,014
10-Q 2019-10-30 Quarter: 2019-09-30
10-Q 2019-08-01 Quarter: 2019-06-30
10-Q 2019-04-30 Quarter: 2019-03-31
10-K 2019-02-14 Annual: 2018-12-31
10-Q 2018-10-25 Quarter: 2018-09-30
10-Q 2018-07-31 Quarter: 2018-06-30
10-Q 2018-05-08 Quarter: 2018-03-31
10-K 2018-02-15 Annual: 2017-12-31
10-Q 2017-10-25 Quarter: 2017-09-30
10-Q 2017-07-25 Quarter: 2017-06-30
10-Q 2017-05-04 Quarter: 2017-03-31
10-K 2017-02-16 Annual: 2016-12-31
10-Q 2016-11-03 Quarter: 2016-09-30
10-Q 2016-07-29 Quarter: 2016-06-30
10-Q 2016-05-05 Quarter: 2016-03-31
10-K 2016-02-18 Annual: 2015-12-31
10-Q 2015-11-05 Quarter: 2015-09-30
10-Q 2015-08-06 Quarter: 2015-06-30
10-Q 2015-05-07 Quarter: 2015-03-31
10-K 2015-02-19 Annual: 2014-12-31
10-Q 2014-11-04 Quarter: 2014-09-30
10-Q 2014-08-07 Quarter: 2014-06-30
10-Q 2014-05-08 Quarter: 2014-03-31
10-K 2014-02-28 Annual: 2013-12-31
10-Q 2013-11-07 Quarter: 2013-09-30
10-Q 2013-08-07 Quarter: 2013-06-30
10-Q 2013-05-09 Quarter: 2013-03-31
10-K 2013-02-25 Annual: 2012-12-31
10-Q 2012-11-09 Quarter: 2012-09-30
10-Q 2012-08-09 Quarter: 2012-06-30
10-Q 2012-05-08 Quarter: 2012-03-31
10-K 2012-02-27 Annual: 2011-12-31
10-Q 2011-11-07 Quarter: 2011-09-30
10-Q 2011-08-08 Quarter: 2011-06-30
10-Q 2011-05-06 Quarter: 2011-03-31
10-K 2011-02-25 Annual: 2010-12-31
10-Q 2010-11-03 Quarter: 2010-09-30
10-Q 2010-08-04 Quarter: 2010-06-30
10-Q 2010-05-07 Quarter: 2010-03-31
10-K 2010-02-23 Annual: 2009-12-31
8-K 2019-10-29 Earnings, Exhibits
8-K 2019-10-07 Regulation FD
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-06-20 Shareholder Vote
8-K 2019-04-29 Earnings, Exhibits
8-K 2019-03-26 M&A, Regulation FD, Exhibits
8-K 2019-02-13 Earnings, Exhibits
8-K 2019-01-29 Enter Agreement, Other Events, Exhibits
8-K 2018-10-24 Earnings, Exhibits
8-K 2018-10-09 Regulation FD
8-K 2018-08-20 Other Events
8-K 2018-07-30 Earnings, Exhibits
8-K 2018-06-20 Shareholder Vote, Other Events, Exhibits
8-K 2018-05-07 Earnings, Exhibits
8-K 2018-03-14 Amend Bylaw, Exhibits
8-K 2018-02-21 M&A, Regulation FD, Exhibits
8-K 2018-02-14 Earnings, Exhibits
8-K 2018-01-22 Enter Agreement, Exhibits

Equity Commonwealth Financials

EQC Metrics, Comps, Filings

Annual | Quarterly

Business

The Company. We are an internally managed and self-advised real estate investment trust, or REIT, primarily engaged in the ownership and operation of office buildings in the United States. We were formed in 1986 under Maryland law and we have elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the Code). The Company operates as what is commonly referred to as an umbrella partnership real estate investment trust, or UPREIT, conducting substantially all of its activities through EQC Operating Trust, a Maryland real estate investment trust (the Operating Trust).

The Company beneficially owned 99.96% of the outstanding shares of beneficial interest, designated as units, in the Operating Trust (OP Units) as of December 31, 2018, and the Company is the sole trustee of the Operating Trust. As the sole trustee, the Company generally has the power under the declaration of trust of the Operating Trust to manage and conduct the business of the Operating Trust, subject to certain limited approval and voting rights of other holders of OP Units.

At December 31, 2018, our portfolio consisted of 10 properties, with a total of 5.1 million square feet. Over the past five years, we disposed of 158 properties and three land parcels totaling 40.7 million square feet for an aggregate gross sales price of $5.4 billion, as well as $704.8 million of common shares of Select Income REIT. The remaining 10 properties were 94.8% leased and had 91.2% commenced occupancy as of December 31, 2018. In 2018, the Company completed seven property dispositions totaling $1.0 billion. In addition, in January 2019, the Company entered into an agreement to sell the entity owning 1735 Market Street in Philadelphia for a gross sale price of $451.6 million. We currently have two other properties totaling 1.4 million square feet for sale.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Empire State Realty Trust (ESRT) 4,582 0% 13.1 2% 4,156 2,208 729 0 98 366 4,776
Macerich (MAC) 4,552 0% 7.1 1% 8,944 5,975 944 0 117 618 4,404
Life Storage (LSI) 4,519 0% 16.3 5% 4,035 1,969 561 0 210 390 6,355
Rexford Industrial Realty (REXR) 4,408 0% 30.4 2% 3,265 901 237 0 51 164 4,986
Healthcare Realty Trust (HR) 4,246 0% 22.0 1% 3,429 1,659 456 0 32 258 5,681
EastGroup Properties (EGP) 4,223 0% 23.5 2% 2,295 1,286 314 0 46 180 4,223
CoreSite Realty (COR) 4,209 53% 19.3 5% 2,001 1,725 560 298 103 286 5,523
Cousins Properties (CUZ) 4,159 66% 20.9 1% 6,677 2,307 516 342 56 286 5,987
Ryman Hospitality Properties (RHP) 4,065 40% 7.2 7% 3,852 3,417 1,431 577 251 538 3,896
Pebblebrook Hotel Trust (PEB) 4,045 36% 30.5 -0% 6,833 3,126 808 294 -5 212 6,475
Hospitality Properties Trust (HPT) 4,021 39% 4.7 3% 7,178 4,520 2,289 885 243 848 3,967
Equity Commonwealth (EQC) 4,014 0% 1.5 14% 3,702 67 165 0 501 560 831
Rayonier (RYN) 3,980 24% 18.5 3% 2,861 1,360 743 177 84 261 4,821
Outfront Media (OUT) 3,880 0% 11.7 3% 5,665 4,530 1,698 0 160 483 5,650
Stag Industrial (STAG) 3,815 0% 17.3 2% 3,462 1,499 375 0 76 301 5,203
Sabra Health Care REIT (SBRA) 3,686 0% 24.3 0% 6,123 2,863 647 0 22 260 6,316
Weingarten Realty Investors (WRI) 3,662 0% 13.2 7% 3,888 2,093 502 0 253 396 5,242
Two Harbors Investment (TWO) 3,651 23.7 -2% 34,340 29,471 0 0 -635 133 3,144
Chimera Investment (CIM) 3,536 3.5 1% 27,638 23,669 0 0 231 1,001 3,482
Apple Hospitality REIT (APLE) 3,515 43% 14.0 4% 4,989 1,637 1,272 553 197 350 4,882

Balance Sheet ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash58172037932793
Accounts Receivable19129292242481751529351
Inventory
PP&E5,5071,1981,3581,5794,6982,9882,1021,297764
Assets6,5891,3691,5626,6465,7625,2444,5264,2373,531
Accounts Payable
Long-Term Debt3,5774,3502,9862,2021,7121,152849276
Liabilities3,4573,8794,6883,2832,4421,8761,266936347
Stockholders' Equity8921,0271,1993,2993,183
Income Statement ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue197
Cost of Revenue
Gross Profit520593515474
R&D
SG&A4011127711357504844
Tax100136003
Net Income13511050-1572410023330273
Cash Flow ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating25226327723520018216310090
Cash Investing-354-624-7481888041,6491,052466942
Cash Financing275360380-301-847-383-923-306-988