Columbia Property Trust (NYSE:CXP) Short Interest Up 17.2% in January
Columbia Property Trust (NYSE:CXP) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,840,000 shares, a growth of 17.2% from the January 15th total of 1,570,000 shares. Based on an average daily trading volume, of 674,000 shares, the short-interest ratio is presently 2.7 days. Approximately 1.6% of the company’s stock are short sold.
Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. raised its position in shares of Columbia Property Trust by 349.5% in the 4th quarter. Prudential Financial Inc. now owns 1,198,562 shares of the real estate investment trust’s stock valued at $25,062,000 after purchasing an additional 931,902 shares in the last quarter. Voya Investment Management LLC raised its holdings in Columbia Property Trust by 3,734.4% in the third quarter. Voya Investment Management LLC now owns 791,464 shares of the real estate investment trust’s stock valued at $16,739,000 after acquiring an additional 770,823 shares in the last quarter. Marshall Wace LLP boosted its stake in Columbia Property Trust by 20,003.3% during the 4th quarter. Marshall Wace LLP now owns 577,971 shares of the real estate investment trust’s stock valued at $12,085,000 after acquiring an additional 575,096 shares during the last quarter. Millennium Management LLC boosted its stake in Columbia Property Trust by 2,251.0% during the 3rd quarter. Millennium Management LLC now owns 543,377 shares of the real estate investment trust’s stock valued at $11,492,000 after acquiring an additional 520,264 shares during the last quarter. Finally, HGI Capital Management LLC acquired a new position in Columbia Property Trust during the 4th quarter worth $7,572,000. 78.66% of the stock is owned by hedge funds and other institutional investors.
Columbia Property Trust stock traded down $0.08 during midday trading on Friday, hitting $22.39. 473,384 shares of the stock were exchanged, compared to its average volume of 741,513. Columbia Property Trust has a 1 year low of $19.64 and a 1 year high of $23.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.45 and a quick ratio of 4.45. The firm has a market cap of $2.60 billion, a P/E ratio of 72.23 and a beta of 0.88. The company has a 50 day moving average price of $21.39 and a two-hundred day moving average price of $21.01.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Monday, March 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Property Trust’s dividend payout ratio (DPR) is 53.85%.
A number of equities research analysts have recently issued reports on CXP shares. SunTrust Banks upgraded Columbia Property Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, January 15th. Zacks Investment Research lowered Columbia Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets cut Columbia Property Trust from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $23.00 to $22.00 in a report on Thursday, October 17th. Morgan Stanley lowered their price objective on shares of Columbia Property Trust from $22.50 to $22.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Goldman Sachs Group assumed coverage on shares of Columbia Property Trust in a research note on Friday, November 8th. They set a “neutral” rating and a $22.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $22.60.
Columbia Property Trust Company Profile
Columbia Property Trust (NYSE: CXP) owns and operates Class-A office buildings concentrated in New York, San Francisco, and Washington, DC Its portfolio includes 19 properties with approximately nine million square feet. Columbia carries an investment-grade rating from both Moody's and Standard & Poor's.
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