First Heartland Consultants Inc. decreased its stake in Columbia Property Trust, Inc. (NYSE:CXP) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,803 shares of the real estate investment trust’s stock after selling 476 shares during the period. First Heartland Consultants Inc.’s holdings in Columbia Property Trust were worth $577,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of CXP. SG Americas Securities LLC boosted its stake in shares of Columbia Property Trust by 34.2% in the first quarter. SG Americas Securities LLC now owns 6,788 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 1,731 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Columbia Property Trust by 19.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,548 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 1,363 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Columbia Property Trust by 34.7% in the first quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 2,500 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Columbia Property Trust by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,312 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 180 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Columbia Property Trust by 6.3% in the fourth quarter. GSA Capital Partners LLP now owns 10,700 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.
Columbia Property Trust, Inc. (CXP) opened at 20.97 on Friday. The stock has a market capitalization of $2.54 billion, a P/E ratio of 18.39 and a beta of 1.16. Columbia Property Trust, Inc. has a 1-year low of $20.27 and a 1-year high of $24.63. The stock has a 50 day moving average price of $21.89 and a 200-day moving average price of $22.25.
The business also recently declared 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. This represents a $0.80 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, August 30th. Columbia Property Trust’s dividend payout ratio (DPR) is 70.18%.
Columbia Property Trust declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 8th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Several brokerages have recently issued reports on CXP. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $21.00 target price on shares of Columbia Property Trust in a research report on Thursday, June 22nd. BidaskClub downgraded Columbia Property Trust from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Columbia Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. Finally, BMO Capital Markets restated a “buy” rating and issued a $26.00 price target on shares of Columbia Property Trust in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.33.
In other Columbia Property Trust news, Director Thomas G. Wattles acquired 4,700 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $21.27 per share, for a total transaction of $99,969.00. Following the completion of the purchase, the director now directly owns 21,166 shares in the company, valued at $450,200.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.
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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