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Sep 30, 2020
Equity Commonwealth Q3 2020 Earnings Report
Reported financial results for the quarter and provided an update on the business due to COVID-19.
Key Takeaways
Equity Commonwealth reported a net loss attributable to common shareholders of $1.6 million, or $0.01 per diluted share, for the quarter ended September 30, 2020. Funds from Operations (FFO) were $3.3 million, or $0.03 per diluted share. The company's cash and cash equivalents balance was $3.4 billion.
Collected 98% of contractual rents in the same property portfolio for Q3 2020, including 3% from security deposits and letters of credit.
Collected 97% of contractual rents in October 2020 to date, including 1% from security deposits and letters of credit.
Same property portfolio was 87.7% leased as of September 30, 2020.
Same property NOI increased 11.8% compared to the same period in 2019, largely due to an increase in lease termination fees.
Equity Commonwealth
Equity Commonwealth
Equity Commonwealth Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The press release contains forward-looking statements regarding the marketing of certain properties for sale and consummating any sales, including statements regarding the overall impact of COVID-19.