Daiwa Securities Group Inc. boosted its position in shares of Columbia Property Trust, Inc. (NYSE:CXP) by 12.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,900 shares of the real estate investment trust’s stock after buying an additional 1,200 shares during the period. Daiwa Securities Group Inc.’s holdings in Columbia Property Trust were worth $244,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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 worth $179,623,000 after buying an additional 7,870,304 shares during the period. Prudential Financial Inc. boosted its stake in 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 worth $29,923,000 after buying an additional 1,177,771 shares during the period. Citadel Advisors LLC boosted its stake in 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 worth $20,179,000 after buying an additional 873,908 shares during the period. Waterfront Capital Partners LLC purchased a new stake in Columbia Property Trust during the first quarter worth about $19,219,000. Finally, Westfield Capital Management Co. LP purchased a new stake in Columbia Property Trust during the first quarter worth about $18,822,000. Institutional investors own 64.65% of the company’s stock.
Columbia Property Trust, Inc. (NYSE CXP) opened at 21.16 on Friday. The stock’s 50 day moving average is $21.93 and its 200-day moving average is $22.25. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 18.56 and a beta of 1.16. Columbia Property Trust, Inc. has a 12 month low of $20.27 and a 12 month high of $24.63.
Columbia Property Trust (NYSE:CXP) last announced its earnings results 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. 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 quarterly revenue was down 41.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Wednesday, August 30th. Columbia Property Trust’s payout ratio is 70.18%.
Columbia Property Trust announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 8th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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CXP has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Columbia Property Trust from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research cut shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. BMO Capital Markets restated a “buy” rating and set a $26.00 price target on shares of Columbia Property Trust in a report on Friday, April 28th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $21.00 price target on shares of Columbia Property Trust in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $24.33.
In related news, Director Thomas G. Wattles bought 4,700 shares of Columbia Property Trust stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average price of $21.27 per share, with a total value of $99,969.00. Following the acquisition, the director now 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 this hyperlink. Insiders own 0.46% of the company’s stock.
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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