Macquarie Group Ltd. lifted its stake in shares of Columbia Property Trust, Inc. (NYSE:CXP) by 16.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 690,282 shares of the real estate investment trust’s stock after buying an additional 99,532 shares during the quarter. Macquarie Group Ltd. owned approximately 0.57% of Columbia Property Trust worth $15,449,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Columbia Property Trust by 0.8% during the second quarter. SG Americas Securities LLC now owns 6,839 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 51 shares in the last quarter. Thrivent Financial For Lutherans grew its position in shares of Columbia Property Trust by 1.3% during the second quarter. Thrivent Financial For Lutherans now owns 16,200 shares of the real estate investment trust’s stock worth $363,000 after buying an additional 200 shares in the last quarter. Aperio Group LLC grew its position in shares of Columbia Property Trust by 1.7% during 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 in the last quarter. Sigma Planning Corp grew its position in shares of Columbia Property Trust by 2.2% during the second quarter. Sigma Planning Corp now owns 13,180 shares of the real estate investment trust’s stock worth $295,000 after buying an additional 281 shares in the last quarter. Finally, First Allied Advisory Services Inc. grew its position in shares of Columbia Property Trust by 3.3% during the second quarter. First Allied Advisory Services Inc. now owns 9,311 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 296 shares in the last quarter. 64.84% 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 on Tuesday, August 15th. The shares were bought at an average cost of $21.27 per share, for a total transaction of $99,969.00. Following the acquisition, the director now directly owns 21,166 shares of the company’s stock, valued at $450,200.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by insiders.
A number of brokerages have recently commented on CXP. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $21.00 price objective 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 report on Monday, July 31st. One investment analyst has 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 currently has a consensus rating of “Hold” and an average target price of $23.80.
Columbia Property Trust, Inc. (CXP) opened at 21.75 on Friday. The company has a 50-day moving average price of $21.25 and a 200-day moving average price of $21.86. The firm has a market capitalization of $2.64 billion, a P/E ratio of 19.08 and a beta of 1.17. Columbia Property Trust, Inc. has a one year low of $20.27 and a one year high of $23.48.
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). Columbia Property Trust had a net margin of 37.27% and a return on equity of 5.55%. The company had revenue of $74.86 million for the quarter, compared to analysts’ expectations of $79.51 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s quarterly revenue was down 41.5% compared to the same quarter last year. On average, equities research analysts anticipate that Columbia Property Trust, Inc. will post $0.07 EPS for the current year.
Columbia Property Trust announced that its board has initiated a stock repurchase program 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 repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.80 annualized dividend and a yield of 3.68%. Columbia Property Trust’s dividend payout ratio is presently 70.18%.
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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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