2023-06-13 16:47:38 ET
- Equity Commonwealth's ( NYSE: EQC ) board on Tuesday authorized the office property REIT to repurchase up to $150M of its shares outstanding under a new stock buyback program.
- EQC stock gained 2.5% in Tuesday after-hours trading.
- The company's existing share repurchase authorization, which still has $120M remaining, expires on June 30, 2023. The new authorization will run from July 1, 2023 until June 30, 2024.
- Year-to-date, Equity Commonwealth ( EQC ) has not repurchased any of its shares.
- EQC stock has declined 2.0% since the start of 2023 and has dropped 8.5% in the past year.
For further details see:
Equity Commonwealth adopts new $150M stock buyback program