Cigna Investments Inc. New maintained its stake in Columbia Property Trust, Inc. (NYSE:CXP) during the second quarter, Holdings Channel reports. The firm owned 45,693 shares of the real estate investment trust’s stock at the end of the second quarter. Cigna Investments Inc. New’s holdings in Columbia Property Trust were worth $1,023,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CXP. Daiwa Securities Group Inc. boosted its stake in Columbia Property Trust by 34.7% in the first quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 2,500 shares in the last quarter. First Trust Advisors LP boosted its stake in Columbia Property Trust by 77.4% in the first quarter. First Trust Advisors LP now owns 301,559 shares of the real estate investment trust’s stock worth $6,710,000 after buying an additional 131,523 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Columbia Property Trust by 1.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,629 shares of the real estate investment trust’s stock worth $437,000 after buying an additional 281 shares in the last quarter. Advisory Services Network LLC bought a new stake in Columbia Property Trust during the first quarter worth approximately $416,000. Finally, Malaga Cove Capital LLC boosted its stake in Columbia Property Trust by 18.4% in the first quarter. Malaga Cove Capital LLC now owns 34,052 shares of the real estate investment trust’s stock worth $761,000 after buying an additional 5,287 shares in the last quarter. 64.12% of the stock is owned by institutional investors and hedge funds.

Columbia Property Trust, Inc. (CXP) opened at 21.13 on Friday. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 18.54 and a beta of 1.16. The company’s 50-day moving average is $22.08 and its 200-day moving average is $22.29. Columbia Property Trust, Inc. has a 52-week low of $20.27 and a 52-week high of $24.63.

Columbia Property Trust (NYSE:CXP) last posted its earnings results 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. Columbia Property Trust had a net margin of 37.27% and a return on equity of 5.55%. The business had revenue of $74.86 million for the quarter, compared to analysts’ expectations of $79.51 million. During the same quarter last year, the business posted $0.48 earnings per share. The business’s revenue was down 41.5% compared to the same quarter last year.

Columbia Property Trust declared that its board has authorized a stock buyback plan on Tuesday, August 8th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 7.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.80 annualized dividend and a yield of 3.79%. Columbia Property Trust’s dividend payout ratio (DPR) is currently 70.18%.

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A number of analysts have recently commented on the stock. BMO Capital Markets reissued a “buy” rating and set a $26.00 target price on shares of Columbia Property Trust in a research note on Friday, April 28th. BidaskClub raised shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $21.00 target price on shares of Columbia Property Trust in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price 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.

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Institutional Ownership by Quarter for Columbia Property Trust (NYSE:CXP)

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