Clean Yield Group Invests $4.03 Million in Columbia Property Trust, Inc. (CXP)

Clean Yield Group purchased a new stake in Columbia Property Trust, Inc. (NYSE:CXP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 178,975 shares of the real estate investment trust’s stock, valued at approximately $4,025,000. Columbia Property Trust makes up approximately 1.7% of Clean Yield Group’s investment portfolio, making the stock its 17th largest position. Clean Yield Group owned approximately 0.15% of Columbia Property Trust as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Columbia Property Trust by 3,883.4% in the first quarter. BlackRock Inc. now owns 8,072,968 shares of the real estate investment trust’s stock valued at $179,623,000 after buying an additional 7,870,304 shares during the period. Norges Bank acquired a new stake in shares of Columbia Property Trust during the fourth quarter valued at about $27,971,000. Prudential Financial Inc. increased its stake in shares of Columbia Property Trust by 704.9% in the first quarter. Prudential Financial Inc. now owns 1,344,846 shares of the real estate investment trust’s stock valued at $29,923,000 after buying an additional 1,177,771 shares during the period. Citadel Advisors LLC increased its stake in shares of Columbia Property Trust by 2,648.3% in the first quarter. Citadel Advisors LLC now owns 906,907 shares of the real estate investment trust’s stock valued at $20,179,000 after buying an additional 873,908 shares during the period. Finally, Waterfront Capital Partners LLC acquired a new stake in shares of Columbia Property Trust during the first quarter valued at about $19,219,000. Institutional investors own 64.12% of the company’s stock.

Shares of Columbia Property Trust, Inc. (NYSE:CXP) traded down 0.09% on Friday, reaching $21.11. The company had a trading volume of 442,559 shares. Columbia Property Trust, Inc. has a 12 month low of $20.27 and a 12 month high of $24.63. The stock has a 50-day moving average price of $22.05 and a 200-day moving average price of $22.29. The stock has a market cap of $2.56 billion, a PE ratio of 18.52 and a beta of 1.16.

Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $74.86 million for the quarter, compared to the consensus estimate of $79.51 million. Columbia Property Trust had a return on equity of 5.55% and a net margin of 37.27%. The business’s revenue for the quarter was down 41.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share.

Columbia Property Trust declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 8th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Wednesday, August 30th. Columbia Property Trust’s dividend payout ratio is currently 70.18%.

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Several equities research analysts have issued reports on CXP shares. BidaskClub upgraded Columbia Property Trust from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research cut Columbia Property Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, June 6th. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price objective on shares of Columbia Property Trust in a research report on Friday, April 28th. 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 research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.33.

About Columbia Property Trust

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.

Institutional Ownership by Quarter for Columbia Property Trust (NYSE:CXP)

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