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EQC Commonwealth Two North Riverside Plaza , Suite 2100 , Chicago , Illinois 60606 5/4/2021 Equity Equity Commonwealth Reports First Quarter 2021 Results CHICAGO -- ( BUSINESS WIRE ) -- Equity Commonwealth ( NYSE : EQC ) today reported financial results for the quarter ended March 31 , 2021 . We continue to monitor the impact of COVID - 19 on our business . Our priority remains the health and safety of our tenants , employees and building staff . For the first quarter 2021 , we collected 97 % of contractual rents . Financial results for the quarter ended March 31 , 2021 Net loss attributable to common shareholders was $ 12 million , or $ 0.10 per diluted share , for the quarter ended March 31 , 2021. This compares to net income attributable to common shareholders of $ 422.8 million , or $ 3.35 per diluted share , for the quarter ended March 31 , 2020. The decline in net income was primarily a result of a decrease in gains from property dispositions and a decrease in interest and other income . ● Funds from Operations , or FFO , as defined by the National Association of Real Estate Investment Trusts , for the quarter ended March 31 , 2021 , were ( $ 7.7 ) million , or ( $ 0.06 ) per diluted share . This compares to FFO for the quarter ended March 31 , 2020 of $ 8.8 million , or $ 0.07 per diluted share . The following items impacted FFO for the quarter ended March 31 , 2021 , compared to the corresponding 2020 period : ● ( $ 0.08 ) per diluted share decrease in interest income and other , net ; ( $ 0.04 ) per diluted share increase in general and administrative expense due to severance ; and ( $ 0.01 ) per diluted share decrease in NOI from properties sold . Normalized FFO was ( $ 0.9 ) million , or ( $ 0.01 ) per diluted share , for the quarter ended March 31 , 2021. This compares to Normalized FFO for the quarter ended March 31 , 2020 of $ 10.5 million , or $ 0.08 per diluted share . The following items impacted Normalized FFO for the quarter ended March 31 , 2021 , compared to the corresponding 2020 period : ( $ 0.08 ) per diluted share decrease in interest income and other , net ; and ( $ 0.01 ) per diluted share decrease in cash NOI from properties sold . Normalized FFO begins with FFO and eliminates certain items that , by their nature , are not comparable from period to period , non - cash items , and items that obscure the company's operating performance . Definitions of FFO , Normalized FFO and reconciliations to net income , determined in accordance with U.S. generally accepted accounting principles , or GAAP , are included at the end of this press release . Same property results for the quarter ended March 31 , 2021