Equity Commonwealth Q2 2020 Earnings Report
Key Takeaways
Equity Commonwealth reported a net income attributable to common shareholders of $25.8 million, or $0.21 per diluted share, for the quarter ended June 30, 2020. FFO was $3.1 million, or $0.03 per diluted share, and Normalized FFO was $3.7 million, or $0.03 per diluted share. The company's cash and cash equivalents balance was $3.4 billion.
Collected 99% of contractual rents in Q2 2020, including 5% from security deposits and letters of credit.
Collected 97% of contractual rents in July 2020 to date, including 4% from security deposits and letters of credit.
Same property portfolio was 90.1% leased as of June 30, 2020, compared to 85.7% as of June 30, 2019.
Same property cash NOI increased 1.5% when compared to the same period in 2019.
Equity Commonwealth
Equity Commonwealth
Forward Guidance
This earnings report contains forward-looking statements regarding the marketing of certain properties for sale and consummating any sales, as well as statements regarding the overall impact of COVID-19.