US Bancorp DE boosted its position in Columbia Property Trust, Inc. (NYSE:CXP) by 17.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 42,960 shares of the real estate investment trust’s stock after buying an additional 6,270 shares during the period. US Bancorp DE’s holdings in Columbia Property Trust were worth $961,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Aperio Group LLC boosted its stake in Columbia Property Trust by 1.7% in 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 during the period. Clean Yield Group purchased a new stake in Columbia Property Trust during the second quarter worth $4,025,000. Colony Group LLC boosted its stake in Columbia Property Trust by 29.6% in the first quarter. Colony Group LLC now owns 141,520 shares of the real estate investment trust’s stock worth $3,149,000 after buying an additional 32,326 shares during the period. Tudor Investment Corp ET AL boosted its stake in Columbia Property Trust by 2.0% in the first quarter. Tudor Investment Corp ET AL now owns 20,807 shares of the real estate investment trust’s stock worth $463,000 after buying an additional 411 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Columbia Property Trust during the first quarter worth $361,000. 64.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Columbia Property Trust, Inc. (NYSE CXP) traded down 0.42% during trading on Thursday, reaching $21.12. 87,491 shares of the company were exchanged. The stock has a 50-day moving average of $22.11 and a 200 day moving average of $22.30. Columbia Property Trust, Inc. has a 52-week low of $20.27 and a 52-week high of $24.63. The stock has a market capitalization of $2.56 billion, a P/E ratio of 18.53 and a beta of 1.16.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $74.86 million during the quarter, compared to analyst estimates of $79.51 million. Columbia Property Trust had a return on equity of 5.55% and a net margin of 37.27%. Columbia Property Trust’s revenue for the quarter was down 41.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.20 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.77%. Columbia Property Trust’s payout ratio is 70.18%.
Columbia Property Trust announced that its Board of Directors has approved a share buyback program on Tuesday, August 8th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research firms recently weighed in on CXP. BidaskClub cut shares of Columbia Property Trust from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $21.00 price objective on shares of Columbia Property Trust in a report on Thursday, June 22nd. Zacks Investment Research cut shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Columbia Property Trust in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.33.
About Columbia Property Trust
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.
Want to see what other hedge funds are holding CXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Property Trust, Inc. (NYSE:CXP).
Receive News & Ratings for Columbia Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Property Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.