Strs Ohio reduced its position in shares of Columbia Property Trust, Inc. (NYSE:CXP) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,804 shares of the real estate investment trust’s stock after selling 29,626 shares during the period. Strs Ohio owned approximately 0.13% of Columbia Property Trust worth $3,531,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Barber Financial Group Inc. raised its stake in Columbia Property Trust by 0.9% in the first quarter. Barber Financial Group Inc. now owns 19,065 shares of the real estate investment trust’s stock worth $424,000 after buying an additional 170 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake 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. Sigma Planning Corp raised its stake in Columbia Property Trust by 1.4% in the first quarter. Sigma Planning Corp now owns 12,899 shares of the real estate investment trust’s stock worth $287,000 after buying an additional 181 shares during the last quarter. US Bancorp DE raised its stake in Columbia Property Trust by 0.6% in the first quarter. US Bancorp DE now owns 36,690 shares of the real estate investment trust’s stock worth $817,000 after buying an additional 231 shares during the last quarter. Finally, Aperio Group LLC raised its stake in Columbia Property Trust by 1.7% in the second quarter. Aperio Group LLC now owns 14,666 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 245 shares during the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.
Columbia Property Trust, Inc. (NYSE:CXP) opened at 20.97 on Friday. The company has a market cap of $2.54 billion, a P/E ratio of 18.39 and a beta of 1.16. The firm has a 50-day moving average price of $21.89 and a 200-day moving average price of $22.25. Columbia Property Trust, Inc. has a 52 week low of $20.27 and a 52 week high of $24.63.
Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Columbia Property Trust had a return on equity of 5.55% and a net margin of 37.27%. The business had revenue of $74.86 million during the quarter, compared to analysts’ expectations of $79.51 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down 41.5% compared to the same quarter last year.
Columbia Property Trust declared that its board has authorized a stock buyback program on Tuesday, August 8th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, August 30th. Columbia Property Trust’s dividend payout ratio is currently 70.18%.
TRADEMARK VIOLATION WARNING: This story was originally reported by Community Financial News and is the property of of Community Financial News. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.com-unik.info/2017/08/19/strs-ohio-lowers-position-in-columbia-property-trust-inc-cxp-updated.html.
A number of equities research analysts recently commented on the company. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $21.00 price target on shares of Columbia Property Trust in a research report on Thursday, June 22nd. BidaskClub lowered Columbia Property Trust from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Columbia Property Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, June 6th. Finally, BMO Capital Markets restated a “buy” rating and issued a $26.00 price objective on shares of Columbia Property Trust in a research note on Friday, April 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.33.
In other Columbia Property Trust news, Director Thomas G. Wattles purchased 4,700 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price 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 of the company’s stock, valued at $450,200.82. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.
What are top analysts saying about Columbia Property Trust Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Columbia Property Trust Inc. and related companies.