Cetera Investment Advisers purchased a new stake in Columbia Property Trust, Inc. (NYSE:CXP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,443 shares of the real estate investment trust’s stock, valued at approximately $438,000.
Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of Columbia Property Trust by 39.4% in the second quarter. Ameriprise Financial Inc. now owns 238,090 shares of the real estate investment trust’s stock valued at $5,328,000 after purchasing an additional 67,250 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Columbia Property Trust in the second quarter valued at approximately $9,026,000. Legal & General Group Plc increased its holdings in shares of Columbia Property Trust by 3.0% in the second quarter. Legal & General Group Plc now owns 414,630 shares of the real estate investment trust’s stock valued at $9,278,000 after purchasing an additional 12,065 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Columbia Property Trust by 5.4% in the first quarter. California Public Employees Retirement System now owns 416,700 shares of the real estate investment trust’s stock valued at $9,272,000 after purchasing an additional 21,200 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Columbia Property Trust by 31.1% in the second quarter. Sei Investments Co. now owns 58,615 shares of the real estate investment trust’s stock valued at $1,311,000 after purchasing an additional 13,894 shares in the last quarter. 64.95% of the stock is owned by institutional investors and hedge funds.
Shares of Columbia Property Trust, Inc. (NYSE:CXP) traded up 2.44% during trading on Friday, hitting $21.45. 928,322 shares of the stock were exchanged. The stock has a market cap of $2.60 billion, a P/E ratio of 18.82 and a beta of 1.17. Columbia Property Trust, Inc. has a 52 week low of $20.27 and a 52 week high of $23.48. The firm’s 50 day moving average price is $21.35 and its 200-day moving average price is $21.80.
Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.26. The business had revenue of $60.36 million for the quarter, compared to the consensus estimate of $75.43 million. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.13%. During the same period in the previous year, the firm earned $0.37 EPS. On average, analysts predict that Columbia Property Trust, Inc. will post $0.07 EPS for the current year.
Columbia Property Trust announced that its board has authorized a share buyback 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 repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other Columbia Property Trust news, Director Thomas G. Wattles bought 4,700 shares of Columbia Property Trust stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average cost of $21.27 per share, with a total value of $99,969.00. Following the transaction, 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 can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.
Separately, BidaskClub raised shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.80.
Columbia Property Trust 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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