Hedge fund Third Point LLC said late Tuesday that it currently holds more than 7 percent of the stock of Maguire Properties Inc. and wants to take an active role in the real estate investment trust.
The disclosure, in a filing with the Securities and Exchange Commission, comes less than a week after Maguire, downtown L.A.'s biggest landlord, announced that it was scrapping its plans to sell the company.
Third Point, which is controlled by L.A. native and billionaire investor Daniel Loeb, reported owning 3.4 million shares of the Los Angeles-based REIT. That represents a 7.1 percent stake.
The hedge fund said it plans to take an active role in Maguire, adding that it wants to discuss the company's operations, strategy and management with shareholders, the company's leadership or third parties.
The hedge fund said it originally acquired the stake for investment purposes "without any purpose or effect of changing or influencing control of the company."
Shares in Maguire were down 2.6 percent to $15.70 in early trading Wednesday.
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