Advisor Group Holdings Inc. Reduces Position in Columbia Property Trust (NYSE:CXP)
Advisor Group Holdings Inc. lessened its holdings in shares of Columbia Property Trust (NYSE:CXP) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,080 shares of the real estate investment trust’s stock after selling 9,173 shares during the quarter. Advisor Group Holdings Inc. owned approximately 0.17% of Columbia Property Trust worth $2,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CXP. Marshall Wace North America L.P. purchased a new position in shares of Columbia Property Trust during the 1st quarter valued at $25,000. Raymond James & Associates purchased a new stake in Columbia Property Trust in the 1st quarter worth $154,000. Aperio Group LLC lifted its stake in Columbia Property Trust by 140.6% in the 1st quarter. Aperio Group LLC now owns 97,677 shares of the real estate investment trust’s stock worth $1,221,000 after purchasing an additional 57,078 shares in the last quarter. Arizona State Retirement System purchased a new stake in Columbia Property Trust in the 1st quarter worth $343,000. Finally, Nissay Asset Management Corp Japan ADV purchased a new stake in Columbia Property Trust in the 1st quarter worth $129,000. Institutional investors own 82.84% of the company’s stock.
Shares of CXP opened at $11.57 on Wednesday. The company has a 50 day moving average price of $11.97 and a 200-day moving average price of $13.06. Columbia Property Trust has a fifty-two week low of $7.63 and a fifty-two week high of $22.71. The stock has a market capitalization of $1.32 billion, a PE ratio of -42.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.92 and a current ratio of 3.92.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.21 per share. The ex-dividend date was Monday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 7.26%. Columbia Property Trust’s payout ratio is 56.00%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Friday, August 21st. Morgan Stanley reduced their target price on shares of Columbia Property Trust from $14.50 to $13.50 and set an “equal weight” rating on the stock in a report on Wednesday, June 24th. Finally, ValuEngine downgraded shares of Columbia Property Trust from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Columbia Property Trust currently has an average rating of “Hold” and an average price target of $20.25.
About Columbia Property Trust
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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