Activist Investor Land & Buildings Urges Office Owner to Liquidate.

Activist investor Jonathan Litt, through his firm Land & Buildings Investment Management, is urging office-building owner Equity Commonwealth to liquidate and return cash to investors. Litt argues that the company has underperformed other real-estate investment trusts and that office asset values are unlikely to recover soon. Equity Commonwealth has a market value of $2 billion, which is less than the $2.2 billion of cash it holds. Litt threatens to take matters directly to shareholders if the company does not comply. [Extracted from the article]