CenturyLink Investment Management Co Invests $956,000 in Columbia Property Trust (NYSE:CXP)

CenturyLink Investment Management Co purchased a new position in Columbia Property Trust (NYSE:CXP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,721 shares of the real estate investment trust’s stock, valued at approximately $956,000.

Several other hedge funds also recently made changes to their positions in the company. Cohen & Steers Inc. grew its stake in shares of Columbia Property Trust by 70.1% in the second quarter. Cohen & Steers Inc. now owns 8,205,436 shares of the real estate investment trust’s stock worth $170,181,000 after acquiring an additional 3,382,212 shares during the period. State Street Corp grew its stake in shares of Columbia Property Trust by 1.2% in the third quarter. State Street Corp now owns 4,569,080 shares of the real estate investment trust’s stock worth $96,636,000 after acquiring an additional 52,356 shares during the period. Morgan Stanley grew its stake in shares of Columbia Property Trust by 3.2% in the second quarter. Morgan Stanley now owns 2,710,063 shares of the real estate investment trust’s stock worth $56,204,000 after acquiring an additional 83,704 shares during the period. Westwood Holdings Group Inc. grew its position in Columbia Property Trust by 0.6% during the second quarter. Westwood Holdings Group Inc. now owns 1,452,144 shares of the real estate investment trust’s stock valued at $30,117,000 after buying an additional 8,441 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Columbia Property Trust by 33.9% during the second quarter. Bank of New York Mellon Corp now owns 1,205,151 shares of the real estate investment trust’s stock valued at $24,995,000 after buying an additional 305,177 shares during the period. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Shares of NYSE CXP opened at $21.10 on Tuesday. The firm has a 50 day moving average of $20.63 and a 200 day moving average of $20.89. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 13.39 and a beta of 0.88. Columbia Property Trust has a 12-month low of $19.64 and a 12-month high of $23.21.

Columbia Property Trust (NYSE:CXP) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $71.95 million during the quarter, compared to analyst estimates of $65.44 million. Columbia Property Trust had a net margin of 12.17% and a return on equity of 1.32%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. Sell-side analysts predict that Columbia Property Trust will post 1.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.98%. This is a positive change from Columbia Property Trust’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, December 13th. Columbia Property Trust’s payout ratio is 53.85%.

CXP has been the subject of several recent research reports. Zacks Investment Research lowered shares of Columbia Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. BMO Capital Markets lowered shares of Columbia Property Trust from an “outperform” rating to a “market perform” rating and cut their target price for the company from $23.00 to $22.00 in a research report on Thursday, October 17th. Morgan Stanley cut their target price on shares of Columbia Property Trust from $22.50 to $22.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Goldman Sachs Group initiated coverage on shares of Columbia Property Trust in a research report on Friday, November 8th. They set a “neutral” rating and a $22.00 target price for the company.

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.

Read More: What is a Call Option?

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

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