Arete Wealth Advisors LLC Has $201,000 Holdings in Columbia Property Trust, Inc. (CXP)
Arete Wealth Advisors LLC cut its position in shares of Columbia Property Trust, Inc. (NYSE:CXP) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,993 shares of the real estate investment trust’s stock after selling 168 shares during the period. Arete Wealth Advisors LLC’s holdings in Columbia Property Trust were worth $201,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CXP. TLP Group LLC purchased a new position in Columbia Property Trust during the second quarter worth about $150,000. SG Americas Securities LLC raised its stake in Columbia Property Trust by 34.2% during the first quarter. SG Americas Securities LLC now owns 6,788 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 1,731 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Columbia Property Trust by 19.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,548 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,363 shares during the period. Janney Montgomery Scott LLC purchased a new position in Columbia Property Trust during the second quarter worth about $213,000. Finally, Teacher Retirement System of Texas raised its stake in Columbia Property Trust by 5.6% during the second quarter. Teacher Retirement System of Texas now owns 9,779 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 522 shares during the period. 64.84% of the stock is currently owned by institutional investors.
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CXP has been the topic of a number of analyst reports. BidaskClub raised shares of Columbia Property Trust from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research downgraded shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $21.00 target price on shares of Columbia Property Trust in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Columbia Property Trust has a consensus rating of “Hold” and a consensus price target of $23.80.
In related news, Director Thomas G. Wattles acquired 4,700 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $21.27 per share, for a total transaction of $99,969.00. Following the acquisition, the director now directly owns 21,166 shares in the company, valued at approximately $450,200.82. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
Columbia Property Trust, Inc. (NYSE CXP) traded up 1.59% during midday trading on Friday, hitting $21.77. 753,981 shares of the stock were exchanged. Columbia Property Trust, Inc. has a 12-month low of $20.27 and a 12-month high of $23.48. The firm has a 50 day moving average of $21.15 and a 200-day moving average of $21.94. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 19.10 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 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The company had revenue of $74.86 million for the quarter, compared to analysts’ expectations of $79.51 million. Columbia Property Trust had a return on equity of 5.55% and a net margin of 37.27%. The company’s revenue was down 41.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share. On average, equities analysts expect that Columbia Property Trust, Inc. will post $0.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.67%. Columbia Property Trust’s payout ratio is currently 70.18%.
Columbia Property Trust declared that its Board of Directors has authorized a stock buyback program on Tuesday, August 8th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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