Merit Financial Group LLC acquired a new position in Columbia Property Trust Inc (NYSE:CXP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 12,375 shares of the real estate investment trust’s stock, valued at approximately $284,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Truewealth LLC acquired a new position in shares of Columbia Property Trust in the 4th quarter worth approximately $138,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Columbia Property Trust in the 4th quarter worth approximately $2,105,000. Geode Capital Management LLC grew its stake in shares of Columbia Property Trust by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,214,481 shares of the real estate investment trust’s stock worth $27,872,000 after purchasing an additional 12,968 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Columbia Property Trust in the 4th quarter worth approximately $12,398,000. Finally, Cbre Clarion Securities LLC acquired a new position in shares of Columbia Property Trust in the 4th quarter worth approximately $90,575,000. 70.93% of the stock is currently owned by institutional investors.
Shares of Columbia Property Trust Inc (NYSE:CXP) traded down $0.23 on Wednesday, hitting $20.85. 916,132 shares of the company’s stock traded hands, compared to its average volume of 807,962. Columbia Property Trust Inc has a one year low of $20.01 and a one year high of $23.31. The firm has a market capitalization of $2,549.03, a PE ratio of 14.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.83 and a current ratio of 0.83.
Columbia Property Trust (NYSE:CXP) last announced its earnings results on Thursday, February 15th. The real estate investment trust reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company 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 business’s revenue for the quarter was down 32.3% on a year-over-year basis. During the same period last year, the company posted $0.37 earnings per share. sell-side analysts forecast that Columbia Property Trust Inc will post 1.44 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Wednesday, February 28th. Columbia Property Trust’s dividend payout ratio is currently 55.17%.
Several brokerages have recently issued reports on CXP. BMO Capital Markets cut shares of Columbia Property Trust to a “sell” rating in a research note on Tuesday, February 27th. SunTrust Banks set a $22.00 price objective on shares of Columbia Property Trust and gave the stock a “hold” rating in a research note on Monday, January 22nd. Zacks Investment Research cut shares of Columbia Property Trust from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $22.00 target price on shares of Columbia Property Trust in a 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 given a buy rating to the stock. Columbia Property Trust presently has an average rating of “Hold” and a consensus price target of $23.57.
In related news, Director Richard W. Carpenter purchased 5,750 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was acquired at an average cost of $22.97 per share, for a total transaction of $132,077.50. Following the completion of the acquisition, the director now owns 20,298 shares in the company, valued at approximately $466,245.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.
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Columbia Property Trust Company 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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