New York State Common Retirement Fund raised its position in Columbia Property Trust (NYSE:CXP) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 222,700 shares of the real estate investment trust’s stock after buying an additional 1,700 shares during the period. New York State Common Retirement Fund owned about 0.19% of Columbia Property Trust worth $5,013,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CXP. Executive Wealth Management LLC bought a new stake in Columbia Property Trust during the fourth quarter worth about $25,000. Resources Investment Advisors Inc. bought a new position in shares of Columbia Property Trust in the fourth quarter worth approximately $29,000. First Hawaiian Bank bought a new position in shares of Columbia Property Trust in the first quarter worth approximately $65,000. Covenant Multifamily Offices LLC bought a new position in shares of Columbia Property Trust in the first quarter worth approximately $85,000. Finally, Sound Income Strategies LLC boosted its position in shares of Columbia Property Trust by 14.9% in the first quarter. Sound Income Strategies LLC now owns 6,202 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 802 shares during the period. Hedge funds and other institutional investors own 74.23% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st.
Columbia Property Trust (NYSE:CXP) last released its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.35). Columbia Property Trust had a net margin of 3.84% and a return on equity of 0.42%. The business had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $72.75 million. During the same period in the previous year, the company earned $0.38 EPS. Columbia Property Trust’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Columbia Property Trust will post 1.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Monday, June 3rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Friday, May 31st. Columbia Property Trust’s dividend payout ratio is currently 51.28%.
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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