Columbia Property Trust, Inc. (CXP) Shares Sold by Strategic Wealth Advisors Group LLC
Strategic Wealth Advisors Group LLC lessened its stake in Columbia Property Trust, Inc. (NYSE:CXP) by 11.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,006 shares of the real estate investment trust’s stock after selling 8,595 shares during the quarter. Strategic Wealth Advisors Group LLC owned 0.06% of Columbia Property Trust worth $1,502,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new position in Columbia Property Trust during the 3rd quarter valued at about $431,000. Bank of New York Mellon Corp increased its holdings in Columbia Property Trust by 18.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,110,187 shares of the real estate investment trust’s stock valued at $89,479,000 after acquiring an additional 634,874 shares in the last quarter. Sei Investments Co. increased its holdings in Columbia Property Trust by 15.8% during the 3rd quarter. Sei Investments Co. now owns 67,872 shares of the real estate investment trust’s stock valued at $1,478,000 after acquiring an additional 9,257 shares in the last quarter. Breton Hill Capital Ltd. increased its holdings in Columbia Property Trust by 14.2% during the 3rd quarter. Breton Hill Capital Ltd. now owns 42,873 shares of the real estate investment trust’s stock valued at $933,000 after acquiring an additional 5,331 shares in the last quarter. Finally, Forsta AP Fonden purchased a new position in Columbia Property Trust during the 3rd quarter valued at about $1,550,000. Institutional investors and hedge funds own 66.21% of the company’s stock.
Columbia Property Trust, Inc. (NYSE CXP) traded down $0.08 during trading on Wednesday, hitting $22.55. 449,000 shares of the company’s stock traded hands, compared to its average volume of 589,338. Columbia Property Trust, Inc. has a one year low of $20.37 and a one year high of $23.48. The firm has a market cap of $2,680.00, a PE ratio of 19.02 and a beta of 1.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.59 and a quick ratio of 3.59.
Columbia Property Trust (NYSE:CXP) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.26. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.10%. The company had revenue of $60.36 million for the quarter, compared to analysts’ expectations of $75.43 million. During the same period last year, the company earned $0.37 EPS. equities research analysts predict that Columbia Property Trust, Inc. will post 1.12 earnings per share for the current fiscal year.
Columbia Property Trust announced that its board has initiated a stock buyback program on Tuesday, August 8th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.55%. Columbia Property Trust’s dividend payout ratio is currently 47.62%.
Several equities analysts have weighed in on the stock. BidaskClub downgraded shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, JMP Securities upgraded shares of Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 target price for the company in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Columbia Property Trust has a consensus rating of “Hold” and a consensus target price of $24.17.
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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