Private Advisor Group LLC cut its stake in Columbia Property Trust, Inc. (NYSE:CXP) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,322 shares of the real estate investment trust’s stock after selling 4,569 shares during the period. Private Advisor Group LLC’s holdings in Columbia Property Trust were worth $1,069,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CXP. State Street Corp increased its position in Columbia Property Trust by 1.9% in the fourth quarter. State Street Corp now owns 3,973,328 shares of the real estate investment trust’s stock valued at $85,832,000 after buying an additional 75,228 shares in the last quarter. Cipher Capital LP bought a new position in Columbia Property Trust during the fourth quarter valued at approximately $234,000. Cadence Capital Management LLC bought a new position in Columbia Property Trust during the fourth quarter valued at approximately $249,000. Russell Investments Group Ltd. bought a new position in Columbia Property Trust during the fourth quarter valued at approximately $10,365,000. Finally, First Heartland Consultants Inc. increased its position in Columbia Property Trust by 0.5% in the third quarter. First Heartland Consultants Inc. now owns 31,839 shares of the real estate investment trust’s stock valued at $713,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 62.66% of the company’s stock.
Columbia Property Trust, Inc. (NYSE:CXP) traded up 1.10% during mid-day trading on Friday, reaching $23.01. The company’s stock had a trading volume of 1,595,367 shares. Columbia Property Trust, Inc. has a one year low of $19.33 and a one year high of $24.63. The firm’s 50 day moving average is $21.91 and its 200-day moving average is $22.25. The stock has a market cap of $2.84 billion, a P/E ratio of 42.69 and a beta of 1.17.
Columbia Property Trust (NYSE:CXP) last announced its earnings results on Thursday, February 9th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $105.77 million for the quarter, compared to analysts’ expectations of $109.23 million. Columbia Property Trust had a net margin of 13.40% and a return on equity of 2.62%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. Equities analysts expect that Columbia Property Trust, Inc. will post $0.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, February 27th. Columbia Property Trust’s dividend payout ratio is 222.22%.
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Several research firms have recently commented on CXP. CIBC upgraded Columbia Property Trust from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 24th. Oppenheimer Holdings, Inc. raised Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a research note on Tuesday, January 24th. JMP Securities cut Columbia Property Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th. Zacks Investment Research raised Columbia Property Trust from a “sell” rating to a “hold” rating in a research note on Friday, December 23rd. Finally, SunTrust Banks, Inc. initiated coverage on Columbia Property Trust in a research note on Wednesday, December 21st. They issued a “hold” rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $23.00.
About Columbia Property Trust
Columbia Property Trust, Inc operates as a real estate investment trust (REIT) for federal income tax purposes. The Company conducts business through Columbia Property Trust Operating Partnership, L.P. (Columbia Property Trust OP), which acquires, develops, owns, leases and operates real properties through subsidiaries or through joint ventures.
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