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Jun 30, 2021
Equity Commonwealth Q2 2021 Earnings Report
Reported a net loss due to decrease in gains from property sales and announced progress on the merger with Monmouth Real Estate Investment Corporation.
Key Takeaways
Equity Commonwealth reported a net loss attributable to common shareholders of $3.9 million, or $0.03 per diluted share, for the quarter ended June 30, 2021. This compares to a net income of $25.8 million, or $0.21 per diluted share, for the quarter ended June 30, 2020. The decline in net income was primarily a result of a decrease in gains from property sales.
Net loss attributable to common shareholders was $3.9 million, or $0.03 per diluted share.
Funds from Operations (FFO) were $0.4 million, or $0.00 per diluted share.
Normalized FFO was ($0.1) million, or ($0.00) per diluted share.
Cash and cash equivalents balance was $3.0 billion.
Equity Commonwealth
Equity Commonwealth
Forward Guidance
The press release contains forward-looking statements regarding the merger, marketing of properties, and the impact of COVID-19, which are subject to risks and uncertainties.