August 21, 2014 2:03 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Columbia Property Trust, Inc.

Company Overview

Columbia Property Trust, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It focuses on investing in and managing high-quality commercial office properties. The firm was formerly known as Wells Real Estate Investment Trust II Inc. Columbia Property Trust, Inc was founded in July 2003 and is based in Atlanta, Georgia.

One Glenlake Parkway

Suite 1200

Atlanta, GA 30328

United States

Founded in 2003

92 Employees

Phone:

404-465-2200

Fax:

404-465-2201

Key Executives for Columbia Property Trust, Inc.

Chief Executive Officer
Age: 53
Total Annual Compensation: $802.8K
Chief Financial Officer and Executive Vice President
Age: 55
Total Annual Compensation: $495.4K
Chief Accounting Officer and Senior Vice President of Corporate Operations
Age: 39
Total Annual Compensation: $327.8K
Compensation as of Fiscal Year 2013.

Columbia Property Trust, Inc. Key Developments

Columbia Property Trust, Inc. Declares Third Quarter Dividend, Payable on September 16, 2014

Columbia Property Trust, Inc. announced that for the third quarter, the company will pay a dividend of $0.30 per share, or an annualized rate of $1.20 per share. The third quarter dividend will be payable on September 16, 2014 to stockholders of record on September 2, 2014.

Columbia Property Trust, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Raises Earnings Guidance for the Year 2014; Reports Impairment Loss on Real Estate Assets for the Second Quarter of 2014

Columbia Property Trust, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $136,757,000 compared to $131,897,000 a year ago. Income before income tax expense was $9,062,000 compared to $16,812,000 a year ago. Net income was $8,021,000 or $0.06 per basic and diluted share compared to $20,601,000 or $0.15 per basic and diluted share a year ago. Funds from operations adjustments were $52,472,000 compared to $52,935,000 a year ago. Normalized FFO was $66,595,000 or $0.53 per share compared to $73,536,000 or $0.54 per share a year ago. Adjusted FFO was $56,034,000 or $0.45 per share compared to $44,602,000 or $0.33 per share a year ago. Adjusted EBITDA was $84,006,000 compared to $91,929,000 a year ago. Total capital expenditures in the quarter were $25,000,000 compared with $21,200,000 in the first quarter and $24,800,000 in the second quarter a year ago. For the six months period, the company reported revenues of $265,925,000 compared to $260,689,000 a year ago. Income before income tax expense was $12,169,000 compared to loss before income tax expense of $1,944,000 a year ago. Net income was $11,421,000 or $0.09 per basic and diluted share compared to net loss of $2,007,000 or $0.01 per basic and diluted share a year ago. Funds from operations adjustments were $112,175,000 compared to $112,362,000 a year ago. Normalized FFO was $129,698,000 or $1.04 per share compared to $139,542,000 or $1.02 per share a year ago. Adjusted FFO was $97,307,000 or $0.78 per share compared to $93,215,000 or $0.68 per share a year ago. Adjusted EBITDA was $162,875,000 compared to $175,991,000 a year ago. The company raised both the upper and lower end of its previous guidance for 2014. For the year ending December 31, 2014, the company now expects to report normalized FFO in the range of $1.95 to $2.00 per share and net income available to common stockholders in the range of $0.27 to $0.29 per diluted share. The company reported impairment loss on real estate assets of $1,432,000 for the second quarter of 2014 compared to nil a year ago.

Columbia Property Trust, Inc. Announces Amendments to Articles of Incorporation

Columbia Property Trust, Inc. amended its Second Articles of Amendment and Restatement, as amended and supplemented (the Articles"), to effect a 4-for-1 reverse stock split of the company's then existing common stock. On July 1, 2014, the company further amended its Articles to reduce the total number of authorized shares of its capital stock from 1,000,000,000 shares to 325,000,000 shares and the total number of authorized shares of its common stock, par value $0.01 per share, from 900,000,000 shares to 225,000,000 shares (with the reduction in authorized common shares proportional to the 4-for-1 stock split). The Company continues to have authorized 100,000,000 shares of preferred stock, par value $0.01 per share, none of which is outstanding.

Similar Private Companies By Industry

Company Name Region
Webster Preferred Capital Corp. United States
Felcor Lodging LP United States
Velocity Commercial Capital, Inc. United States
Ironbound Investment Company, Inc. United States
DSBW Residential Preferred Funding Corporation United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 1, 2014
128,296 Square Foot Class-A SunTrust Building at 200 South Orange in Orlando
Merger/Acquisition
July 1, 2014
240,274 Square Foot Class-B Office Property at 160 Park Avenue in Florham Park
Merger/Acquisition
April 22, 2014
Class A office Tower in San Francisco
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Columbia Property Trust, Inc., please visit www.columbiapropertytrust.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.