Columbia Property Trust, Inc. (NYSE:CXP) Director Thomas G. Wattles bought 4,700 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $21.27 per share, for a total transaction of $99,969.00. Following the purchase, the director now owns 21,166 shares in the company, valued at approximately $450,200.82. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Columbia Property Trust, Inc. (NYSE:CXP) traded up 0.05% during midday trading on Wednesday, reaching $21.23. 187,092 shares of the company traded hands. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 18.62 and a beta of 1.16. Columbia Property Trust, Inc. has a 12 month low of $20.27 and a 12 month high of $24.63. The firm has a 50 day moving average of $21.99 and a 200-day moving average of $22.27.

Columbia Property Trust (NYSE:CXP) last released 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 company had revenue of $74.86 million for the quarter, compared to analyst estimates of $79.51 million. Columbia Property Trust had a net margin of 37.27% and a return on equity of 5.55%. Columbia Property Trust’s revenue for the quarter was down 41.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.77%. The ex-dividend date is Wednesday, August 30th. Columbia Property Trust’s payout ratio is currently 70.18%.

Columbia Property Trust declared that its board has approved a stock buyback plan on Tuesday, August 8th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: This story was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.americanbankingnews.com/2017/08/16/columbia-property-trust-inc-cxp-director-thomas-g-wattles-acquires-4700-shares.html.

A number of equities analysts have recently commented on the stock. 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. BidaskClub raised shares of Columbia Property Trust from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. 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, BMO Capital Markets reissued a “buy” rating and issued a $26.00 target price on shares of Columbia Property Trust in a research note on Friday, April 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $24.33.

A number of institutional investors have recently added to or reduced their stakes in CXP. Metropolitan Life Insurance Co. NY boosted its position in Columbia Property Trust by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,312 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 180 shares during the last quarter. Teachers Advisors LLC boosted its position in Columbia Property Trust by 34.2% in the fourth quarter. Teachers Advisors LLC now owns 270,768 shares of the real estate investment trust’s stock valued at $5,849,000 after buying an additional 69,019 shares during the last quarter. Creative Planning boosted its position in Columbia Property Trust by 3.1% in the first quarter. Creative Planning now owns 11,449 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 345 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Columbia Property Trust by 29.3% in the first quarter. State of Alaska Department of Revenue now owns 63,490 shares of the real estate investment trust’s stock valued at $1,412,000 after buying an additional 14,380 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in Columbia Property Trust by 5.7% in the first quarter. Nationwide Fund Advisors now owns 379,184 shares of the real estate investment trust’s stock valued at $8,437,000 after buying an additional 20,440 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

About Columbia Property Trust

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.

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.