First Trust Advisors LP Lowers Stake in Columbia Property Trust Inc (CXP)
First Trust Advisors LP decreased its stake in shares of Columbia Property Trust Inc (NYSE:CXP) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,972 shares of the real estate investment trust’s stock after selling 16,220 shares during the period. First Trust Advisors LP’s holdings in Columbia Property Trust were worth $7,734,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new stake in shares of Columbia Property Trust during the fourth quarter worth $209,000. Cetera Advisor Networks LLC bought a new position in Columbia Property Trust in the fourth quarter valued at $215,000. SG Americas Securities LLC grew its position in Columbia Property Trust by 109.5% in the third quarter. SG Americas Securities LLC now owns 14,326 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 7,487 shares in the last quarter. Schroder Investment Management Group bought a new position in Columbia Property Trust in the third quarter valued at $325,000. Finally, AE Wealth Management LLC bought a new position in Columbia Property Trust in the fourth quarter valued at $339,000. 69.67% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on the stock. BMO Capital Markets downgraded shares of Columbia Property Trust to a “sell” rating in a research report on Tuesday, February 27th. SunTrust Banks set a $22.00 target price on shares of Columbia Property Trust and gave the company a “hold” rating in a research report on Monday, January 22nd. Zacks Investment Research downgraded shares of Columbia Property Trust from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 target price on shares of Columbia Property Trust in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Columbia Property Trust has an average rating of “Hold” and an average price target of $23.57.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $64.63 million. Columbia Property Trust had a net margin of 60.91% and a return on equity of 6.94%. The company’s revenue for the quarter was down 32.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. equities analysts forecast that Columbia Property Trust Inc will post 1.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, February 28th. Columbia Property Trust’s dividend payout ratio is currently 55.17%.
In other news, Director Richard W. Carpenter purchased 5,750 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was purchased at an average price of $22.97 per share, for a total transaction of $132,077.50. Following the completion of the purchase, the director now directly owns 20,298 shares in the company, valued at approximately $466,245.06. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.
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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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