Columbia Property Trust Inc. (CXP) Sees Large Growth in Short Interest
Columbia Property Trust Inc. (NYSE:CXP) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,153,681 shares, a growth of 47.2% from the August 31st total of 783,600 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 509,259 shares, the short-interest ratio is currently 2.3 days.
Separately, Zacks Investment Research downgraded Columbia Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $22.75.
Shares of Columbia Property Trust (NYSE:CXP) opened at 22.39 on Monday. Columbia Property Trust has a 12-month low of $19.34 and a 12-month high of $26.24. The firm has a market capitalization of $2.76 billion, a P/E ratio of 55.42 and a beta of 1.15. The company has a 50-day moving average price of $23.40 and a 200-day moving average price of $22.39.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.35. Columbia Property Trust had a net margin of 9.58% and a return on equity of 1.95%. The firm earned $127.93 million during the quarter, compared to the consensus estimate of $127.96 million. During the same period last year, the firm earned $0.53 EPS. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. Equities analysts predict that Columbia Property Trust will post $0.19 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend was Tuesday, August 30th. Columbia Property Trust’s payout ratio is 300.01%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CXP. BB&T Securities LLC increased its position in shares of Columbia Property Trust by 0.7% in the second quarter. BB&T Securities LLC now owns 10,044 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 73 shares during the last quarter. BlackRock Japan Co. Ltd increased its stake in Columbia Property Trust by 1.2% in the first quarter. BlackRock Japan Co. Ltd now owns 6,581 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 75 shares in the last quarter. Amalgamated Bank increased its stake in Columbia Property Trust by 2.5% in the second quarter. Amalgamated Bank now owns 14,950 shares of the real estate investment trust’s stock worth $363,000 after buying an additional 364 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Columbia Property Trust by 1.8% in the second quarter. BNP Paribas Arbitrage SA now owns 25,151 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 440 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Columbia Property Trust by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,750 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 461 shares in the last quarter. 60.60% of the stock is owned by hedge funds and other institutional investors.
About Columbia Property Trust
Columbia Property Trust, Inc operates as a real estate investment trust (REIT) for federal income tax purposes. The Company conducts business through Columbia Property Trust Operating Partnership, L.P. (Columbia Property Trust OP), which acquires, develops, owns, leases and operates real properties through subsidiaries or through joint ventures.
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