Equity Commonwealth Announces $150 Million Share Repurchase Authorization
14 Dezembro 2021 - 6:10PM
Business Wire
Equity Commonwealth (NYSE: EQC) announced today that its Board
of Trustees authorized the repurchase, through December 31, 2022,
of an additional $150 million of its outstanding common shares
under the company’s existing share repurchase program. With this
additional $150 million authorized, the company now has $170.5
million available for future share repurchases, including $20.5
million remaining under its prior authorization that expires on
June 30, 2022.
Year-to-date through December 14, 2021, the company purchased
5,005,699 shares at a weighted average price of $25.87 per share,
for a total investment of $129.5 million.
Purchases made pursuant to the program will be made from time to
time, at the company’s discretion, in the open market, through
privately negotiated transactions or through other manners as
permitted by federal securities laws. The timing, manner, price and
amount of any repurchases will be determined by the company and
will be subject to economic and market conditions, stock price,
applicable legal requirements and other factors. The program may be
suspended or discontinued at any time.
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 4 properties and 1.5
million square feet.
Regulation FD Disclosures We use any of the following to
comply with our disclosure obligations under Regulation FD: press
releases, SEC filings, public conference calls, or our website. We
routinely post important information on our website at
www.eqcre.com, including information that may be deemed to be
material. We encourage investors and others interested in the
company to monitor these distribution channels for material
disclosures.
Forward-Looking Statements Some of the statements
contained in this press release constitute forward-looking
statements within the meaning of the federal securities laws,
including, but not limited to, any statements regarding future
share repurchases. Any forward-looking statements contained in this
press release are intended to be made pursuant to the safe harbor
provisions of Section 21E of the Securities Exchange Act of 1934,
as amended. Forward-looking statements relate to expectations,
beliefs, projections, future plans and strategies, anticipated
events or trends and similar expressions concerning matters that
are not historical facts. In some cases, you can identify
forward-looking statements by the use of forward-looking
terminology such as “may,” “will,” “should,” “expects,” “intends,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,”
“potential,” or the negative of these words and phrases or similar
words or phrases which are predictions of or indicate future events
or trends and which do not relate solely to historical matters. You
can also identify forward-looking statements by discussions of
strategy, plans or intentions.
Any forward-looking statements contained in this press release
reflect the company’s current views about future events and are
subject to numerous known and unknown risks, uncertainties,
assumptions and changes in circumstances that may cause the
company’s actual results to differ significantly from those
expressed in any forward-looking statement. We do not guarantee
that the transactions and events described will happen as described
(or that they will happen at all). We disclaim any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, of new information,
data or methods, future events or other changes. For a further
discussion of these and other factors that could cause the
company’s future results to differ materially from any
forward-looking statements, see the section entitled “Risk Factors”
in the company’s most recent Annual Report on Form 10-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20211214006244/en/
Sarah Byrnes, Equity Commonwealth, (312) 646-2801
Equity Commonwealth (NYSE:EQC)
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