State of Wisconsin Investment Board lowered its holdings in Columbia Property Trust, Inc. (NYSE:CXP) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,392 shares of the real estate investment trust’s stock after selling 120 shares during the quarter. State of Wisconsin Investment Board’s holdings in Columbia Property Trust were worth $546,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CXP. ProShare Advisors LLC grew its position in Columbia Property Trust by 357.8% in the 1st quarter. ProShare Advisors LLC now owns 151,244 shares of the real estate investment trust’s stock valued at $752,000 after purchasing an additional 118,210 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Columbia Property Trust by 1.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,629 shares of the real estate investment trust’s stock valued at $437,000 after purchasing an additional 281 shares during the period. First Trust Advisors LP grew its position in Columbia Property Trust by 77.4% in the 1st quarter. First Trust Advisors LP now owns 301,559 shares of the real estate investment trust’s stock valued at $6,710,000 after purchasing an additional 131,523 shares during the period. Daiwa Securities Group Inc. grew its position in Columbia Property Trust by 34.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 2,500 shares during the period. Finally, Capital Fund Management S.A. grew its position in Columbia Property Trust by 5.2% in the 1st quarter. Capital Fund Management S.A. now owns 32,942 shares of the real estate investment trust’s stock valued at $733,000 after purchasing an additional 1,642 shares during the period. 64.81% of the stock is owned by institutional investors and hedge funds.
In other Columbia Property Trust news, Director Thomas G. Wattles acquired 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average cost of $21.27 per share, with a total value of $99,969.00. Following the completion of the transaction, the director now directly owns 21,166 shares of the company’s stock, valued at approximately $450,200.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. BidaskClub raised shares of Columbia Property Trust from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Columbia Property Trust in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $23.80.
Shares of Columbia Property Trust, Inc. (NYSE:CXP) opened at 21.04 on Tuesday. The stock’s 50 day moving average price is $21.29 and its 200-day moving average price is $22.03. Columbia Property Trust, Inc. has a 1-year low of $20.27 and a 1-year high of $23.70. The company has a market capitalization of $2.55 billion, a PE ratio of 18.46 and a beta of 1.16.
Columbia Property Trust (NYSE:CXP) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by $0.01. Columbia Property Trust had a net margin of 37.27% and a return on equity of 5.55%. The business had revenue of $74.86 million for the quarter, compared to analysts’ expectations of $79.51 million. During the same period last year, the business earned $0.48 earnings per share. The company’s quarterly revenue was down 41.5% on a year-over-year basis. On average, equities analysts predict that Columbia Property Trust, Inc. will post $0.07 EPS for the current year.
Columbia Property Trust announced that its board has approved a stock repurchase plan on Tuesday, August 8th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.80%. Columbia Property Trust’s dividend payout ratio (DPR) is presently 70.18%.
Columbia Property Trust Company Profile
Columbia Property Trust, Inc operates as a real estate investment trust (REIT), which owns and operates commercial real estate properties. The Company’s primary objective is to generate long-term shareholder returns from a combination of steadily growing cash flows and appreciation in its net asset values, through the acquisition and ownership of office buildings located principally in high-barrier-to-entry markets.
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