Thu, May 7, 11:58 AM
- Q1 normalized FFO of $72M or $0.55 per share vs. $61M and $0.51 one year ago.
- Portfolio consists of 154 properties and 42.8M square feet.
- Same-property NOI down 1% Y/Y, up 2.5% on a cash basis thanks to property tax refunds. G&A expense of $16.6M down from $24.9M.
- Same-property leasing percentage of 85.9% down 70 bps Y/Y.
- Leases of 1.478M square feet signed, with 720K square feet of new leases and 785K square feet of renewals.
- Cash rental rates on new and renewal leases were flat vs. the prior rates for same space. GAAP rental rate up 5.6%.
- Since quarter's end, company has 52 properties under sales agreements totaling more than 8M square feet and $750M. The plan is sell $2B-$3B of assets through 2017. Another 32 properties are currently on the block.
- Previously: Equity Commonwealth beats by $0.06, beats on revenue (May 6)
- EQC +4%
Wed, May 6, 4:46 PM| Comment!
Tue, May 5, 5:35 PM
- ACAS, ALB, ALDW, AMTG, ANAC, AREX, ATML, ATO, ATVI, AUQ, AWK, BEAT, BGC, BNFT, BREW, BRKR, BWC, CCRN, CECO, CF, CHEF, CHGG, CJES, CKP, CLR, CLVS, CODI, CPA, CPE, CSLT, CSOD, CUZ, CXW, CZR, DMD, DPM, ECR, EFC, EGN, ENSG, EPAM, EPM, EQC, ESS, ETE, ETP, EXTR, EXXI, FLTX, FNGN, FNV, FOXA, FRSH, GBDC, GMCR, GUID, HIVE, HR, HUBS, IL, IO, IVR, JKHY, JONE, KIM, KND, KW, LCI, LGCY, LHCG, MASI, MCHX, MELI, MET, MITT, MRIN, MRO, MTDR, NEWP, NLY, NP, NSIT, NSTG, NUS, OAS, ORA, OSUR, PAYC, PDLI, PEGA, PFMT, PGTI, PHH, PMT, PNNT, PRAA, PRI, PRU, PSEC, PTLA, QLTY, QTM, REG, RIG, RIGP, RST, RYN, SBY, SD, SGM, SLH, SN, SQNM, SUN, SWM, SXL, SZYM, TCAP, THRX, TRIP, TROX, TSLA, TTPH, TUMI, TWO, VECO, VNDA, VRNS, VVC, WBMD, WFM, WGL, WTI, XNPT
Wed, Feb. 18, 4:25 PM| Comment!
Tue, Feb. 17, 5:35 PM
- ABX, ACT, AMTG, ARII, ARRS, ASGN, AVG, AXLL, BGS, BJRI, CAR, CDE, CSLT, CVG, CW, CYNI, DENN, DTLK, ELNK, EOG, EQC, ETE, ETP, EXAM, FNF, HSTM, HT, IAG, IPI, KEG, KEYW, LHO, LOPE, MANT, MAR, MHLD, MIC, MRO, NVMI, OGS, OIS, PAAS, PCYC, PKD, REXX, RGP, SBRA, SCTY, SIX, SNPS, SSS, STR, SUN, SUNE, SXL, TERP, THRX, TILE, TRN, TS, UAM, WES, WGP, WMB, WPZ, XPO, YUME
Nov. 3, 2014, 6:28 PM
- Normalized FFO of $57.3M or $0.44 per share vs. $63.7M and $0.54 one year ago. Normalized FFO excludes the $171.8M or $1.33 per share gain from the sale of Select Income REIT.
- Overall portfolio 85.9% leased vs. 86.7% in Q2, 86.8% a year ago. Cash rental rates on new and renewal leases down 2.8% from prior rates. Same-property NOI up 5.1% Y/Y. Same-property cash NOI up 7% thanks to the settlement of litigation with a former tenant.
- No common dividends expected for the rest of this year as new management focuses on improving the value of the portfolio. The new team assumed total control of company operations from RMR on October 1.
- Shareholders approved maximum payment of $33.5M to Related/Corvex to cover their consent solicitation costs. About $16.7M was paid in Q3, and the remaining payments are contingent on average closing share price of $26 in 2015 and 2016.
- Conference call tomorrow at 10:30 ET
- Previously: Equity Commonwealth misses by $0.12, beats on revenue
- EQC flat after-hours
Nov. 3, 2014, 5:39 PM| Comment!
Nov. 2, 2014, 5:35 PM
- ACXM, AEIS, AGU, AIG, AMTG, ANV, APL, BDE, BKH, CHGG, CKP, CRK, CUTR, CVD, CXW, CYH, DXPE, EGAN, ELNK, ENH, EOX, EPAM, EQC, FN, FTR, GALE, GRT, GTY, HLF, IART, ININ, KAMN, KBR, LCI, MCEP, MDU, MR, MRO, NBIX, NLS, NOR, NTRI, OGS, OTTR, PKT, PL, PLOW, PQ, QLYS, RBC, REG, RKT, RKUS, RLD, RTEC, SALE, SBRA, SGY, SKH, SNHY, SRC, SSW, SUP, TDW, THC, TXRH, VNO, VNR, WTR, Y
Aug. 5, 2014, 6:47 PM
- Equity Commonwealth (NYSE:EQC): Q2 FFO of $0.68 beats by $0.10.
- Revenue of $215.19M (-17.9% Y/Y) misses by $1.29M.
May 8, 2014, 9:31 AM| Comment!
Feb. 27, 2014, 8:57 AM
- Normalized FFO per share of $0.63 dives from $0.82 a year ago. Normalized FFO actually grew (to $74.8M from $68.7M), but management's heavily dilutive secondary offering last year stung the per share result.
- 89.6% of total square footage is leased, the same as the end of Q3.
- No purchase agreements have been entered into since the start of this year. As of Dec. 31, 45 properties with 8.4M square feet are classified as held for sale. Company expects to move them this year.
- CC at 1 ET, but don't expect a discussion of anything but operations.
- Press release, Q4 results
- CWH no trades premarket
Feb. 27, 2014, 8:04 AM| Comment!
Feb. 27, 2014, 12:05 AM| Comment!
Feb. 26, 2014, 5:30 PM| 1 Comment
Nov. 6, 2013, 8:19 AM
- Normalized FFO of $67.3M or $0.57 per share compares to $69.3M or $0.83 per share a year ago (share count boosted to 118M from 84M). Not included are litigation costs of $13.8M or $0.12 per share.
- Company made no acquisitions or agreements for acquisitions during quarter, keeping the total for the year at zero. Company has sold 38 of 40 targeted (at start of year) suburban properties and the remaining two are under agreement. In September, company targeted another 45 properties and these have been reclassified into discontinued operations as of the end of Q3. The company expects to have unloaded them by the middle of next year.
- Commonwealth no longer includes Select Income REIT (SIR) as part of its operations as a summer stock offering brought CWH's stake to less than 50% of the company.
- CC at 1 ET.
- Q3 results, press release.
Nov. 6, 2013, 7:07 AM| Comment!
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