November 26, 2014 11:36 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 Regular Cash Dividend for the Fourth Quarter of 2014, Payable on December 16, 2014

Columbia Property Trust, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of $0.30 per share, or $1.20 per share on an annualized basis, for the fourth quarter of 2014. The dividend will be paid on December 16, 2014, to shareholders of record as of December 2, 2014.

Columbia Property Trust, Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides FFO Guidance for the Year Ending December 31, 2014

Columbia Property Trust, Inc. reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. Net income attributable to common stockholders was $25.0 million, or $0.20 per diluted share, for the third quarter of 2014 compared with net income attributable to common stockholders of $4.8 million, or $0.04 per diluted share, for the third quarter of 2013. Normalized FFO was $64.1 million, or $0.51 per diluted share, for the third quarter of 2014 compared with $71.4 million, or $0.53 per diluted share, in the prior-year period. AFFO was $49.4 million, or $0.40 per diluted share, for the third quarter of 2014 compared with $50.6 million, or $0.38 per diluted share, in the prior-year period. Revenues were $136,981,000 against $132,502,000 for the same period of last year. Real estate operating income was $24,828,000 against $32,291,000 for the same period of last year. Income before income tax expense and gains on sale of real estate assets was $7,330,000 against $14,430,000 for the same period of last year. Income from continuing operations was $25,528,000 against $14,006,000 for the same period of last year. Income from continuing operations per diluted share was $0.20 against $0.10 for the same period of last year. Funds from operations were $55,837,000 against $70,608,000 for the same period of last year. FFO per diluted share was $0.45 against $0.52 for the same period of last year. EBITDA was $92,326,000 against $69,544,000 for the same period of last year. Adjusted EBITDA was $81,984,000 against $90,379,000 for the same period of last year. Total capital expenditures in the quarter were $18.4 million compared with $25 million in the second quarter and $17.6 million in the third quarter a year ago. Net income attributable to common stockholders was $36.4 million, or $0.29 per diluted share, for the first nine months of 2014 compared with $2.8 million, or $0.02 per diluted share, for the first nine months of 2013. Normalized FFO was $193.8 million, or $1.55 per diluted share, for the first nine months of 2014 compared with $210.9 million, or $1.55 per diluted share, in the prior-year period. AFFO was $146.7 million, or $1.17 per diluted share, for the first nine months of 2014 compared with $143.8 million, or $1.06 per diluted share, in the prior-year period. Revenues were $402,906,000 against $393,191,000 for the same period of last year. Real estate operating income was $70,490,000 against $64,085,000 for the same period of last year. Income before income tax expense and gains on sale of real estate assets was $19,499,000 against $12,486,000 for the same period of last year. Income from continuing operations was $37,690,000 against $11,840,000 for the same period of last year. Income from continuing operations per diluted share was $0.30 against $0.09 for the same period of last year. Funds from operations were $179,433,000 against $180,963,000 for the same period of last year. FFO per diluted share was $1.44 against $1.33 for the same period of last year. EBITDA was $233,139,000 against $195,277,000 for the same period of last year. Adjusted EBITDA was $244,859,000 against $266,370,000 for the same period of last year. Based on acquisition and disposition activity to date, as well as stronger Same Store Cash NOI growth and lower expenses, the company has increased both the upper and lower end of its guidance range for the full year 2014. For the year ending December 31, 2014, the company now expects to report Normalized FFO in the range of $2.01 to $2.03 per diluted share and Net income available to common stockholders in the range of $0.35 to $0.37 per diluted share.

Columbia Property Trust, Inc. to Report Q3, 2014 Results on Oct 30, 2014

Columbia Property Trust, Inc. announced that they will report Q3, 2014 results After-Market on Oct 30, 2014

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 6, 2014
Five Buildings of One Million Square Foot Area in Atlanta
Merger/Acquisition
September 9, 2014
650 California Street Class-A office tower in San Francisco
Merger/Acquisition
August 27, 2014
250,813 Square-Foot Office Facility Located in Westborough Technology Park
 

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