Covenant Multifamily Offices LLC purchased a new position in shares of Columbia Property Trust (NYSE:CXP) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,771 shares of the real estate investment trust’s stock, valued at approximately $85,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in Columbia Property Trust by 67.8% in the first quarter. SG Americas Securities LLC now owns 34,993 shares of the real estate investment trust’s stock valued at $788,000 after purchasing an additional 14,143 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Columbia Property Trust by 105.8% during the first quarter. BNP Paribas Arbitrage SA now owns 40,541 shares of the real estate investment trust’s stock worth $913,000 after acquiring an additional 20,845 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Columbia Property Trust by 126.0% during the first quarter. Nisa Investment Advisors LLC now owns 9,945 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 5,545 shares during the last quarter. Presima Inc. increased its stake in Columbia Property Trust by 0.7% during the first quarter. Presima Inc. now owns 735,100 shares of the real estate investment trust’s stock worth $16,547,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in Columbia Property Trust by 14.9% during the first quarter. Sound Income Strategies LLC now owns 6,202 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 802 shares during the last quarter. 74.65% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research lowered Columbia Property Trust from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th.
Shares of NYSE CXP traded up $0.06 on Wednesday, hitting $21.98. The company had a trading volume of 255,505 shares, compared to its average volume of 614,474. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 14.09 and a beta of 1.00. Columbia Property Trust has a 12-month low of $18.08 and a 12-month high of $25.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.80 and a quick ratio of 2.80.
Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $75.43 million during the quarter, compared to analysts’ expectations of $72.75 million. Columbia Property Trust had a net margin of 3.84% and a return on equity of 0.42%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. Research analysts expect that Columbia Property Trust will post 1.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Monday, June 3rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, May 31st. Columbia Property Trust’s dividend payout ratio is currently 51.28%.
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Columbia Property Trust Profile
Columbia Property Trust (NYSE: CXP) owns and operates Class-A office buildings concentrated in New York, San Francisco, and Washington, DC Its portfolio includes 19 properties with approximately nine million square feet. Columbia carries an investment-grade rating from both Moody's and Standard & Poor's.
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