Pacad Investment Ltd. lessened its holdings in Columbia Property Trust, Inc. (NYSE:CXP) by 50.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,900 shares of the real estate investment trust’s stock after selling 8,199 shares during the period. Pacad Investment Ltd.’s holdings in Columbia Property Trust were worth $177,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kempen Capital Management N.V. raised its stake in shares of Columbia Property Trust by 9.9% in the 1st quarter. Kempen Capital Management N.V. now owns 85,197 shares of the real estate investment trust’s stock valued at $1,896,000 after acquiring an additional 7,702 shares during the period. Private Advisor Group LLC raised its stake in shares of Columbia Property Trust by 10.8% in the 1st quarter. Private Advisor Group LLC now owns 55,770 shares of the real estate investment trust’s stock valued at $1,254,000 after acquiring an additional 5,448 shares during the period. California Public Employees Retirement System raised its stake in shares of Columbia Property Trust by 5.4% in the 1st quarter. California Public Employees Retirement System now owns 416,700 shares of the real estate investment trust’s stock valued at $9,272,000 after acquiring an additional 21,200 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Columbia Property Trust by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,475,313 shares of the real estate investment trust’s stock valued at $77,778,000 after acquiring an additional 88,567 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Columbia Property Trust by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 414,630 shares of the real estate investment trust’s stock valued at $9,278,000 after acquiring an additional 12,065 shares during the period. 64.81% of the stock is currently owned by institutional investors and hedge funds.

In other Columbia Property Trust news, Director Thomas G. Wattles bought 4,700 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $21.27 per share, with a total value of $99,969.00. Following the completion of the transaction, the director now directly owns 21,166 shares of the company’s stock, valued at approximately $450,200.82. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.46% of the company’s stock.

WARNING: “Pacad Investment Ltd. Cuts Stake in Columbia Property Trust, Inc. (CXP)” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/09/14/pacad-investment-ltd-cuts-stake-in-columbia-property-trust-inc-cxp.html.

CXP has been the topic of a number of research reports. 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. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $21.00 target price on shares of Columbia Property Trust in a research note on Thursday, June 22nd. Finally, BidaskClub raised shares of Columbia Property Trust from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $23.80.

Shares of Columbia Property Trust, Inc. (CXP) opened at 21.02 on Thursday. The stock has a market cap of $2.55 billion, a P/E ratio of 18.44 and a beta of 1.16. The company’s 50-day moving average is $21.25 and its 200 day moving average is $22.01. Columbia Property Trust, Inc. has a 1-year low of $20.27 and a 1-year high of $23.48.

Columbia Property Trust (NYSE:CXP) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The business had revenue of $74.86 million during the quarter, compared to the consensus estimate of $79.51 million. Columbia Property Trust had a return on equity of 5.55% and a net margin of 37.27%. The business’s revenue was down 41.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. Equities research analysts anticipate that Columbia Property Trust, Inc. will post $0.07 EPS for the current year.

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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, August 30th. Columbia Property Trust’s dividend payout ratio is 70.18%.

Columbia Property Trust announced that its board has approved a stock buyback program on Tuesday, August 8th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.

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

Receive News & Stock Ratings for Columbia Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Property Trust Inc. and related stocks with our FREE daily email newsletter.