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Columbia Property Trust (NYSE: CXP) declared a quarterly cash dividend of $0.21 per share, totaling $0.84 annually, for Q1 2021. The dividend will be paid on March 16, 2021 to shareholders on record as of March 1, 2021. Columbia focuses on owning and managing Class-A office buildings in major markets such as New York and San Francisco. The company operates 15 properties with over 6 million square feet of rentable space and has four properties under development.
Columbia Property Trust (CXP) has announced the tax treatment of its 2020 distributions. The company recorded a total distribution of $0.21 per share for its common stock, with specific allocations for federal income tax purposes. The fourth quarter dividend paid in January 2020 is entirely allocable to 2020, while the fourth quarter 2020 dividend has portions allocated to both 2020 and 2021. Shareholders are advised to consult with tax advisors regarding their distributions.
Columbia Property Trust (NYSE: CXP) will release its financial results for the period ending December 31, 2020, along with guidance for 2021 on February 18, 2021, after market close. A live audio webcast and conference call will be held at 5:00 p.m. ET on the same day. The Company, known for its Class-A office buildings in major U.S. cities, boasts a portfolio of 15 properties totaling approximately seven million rentable square feet, along with four properties under development. Columbia holds investment-grade ratings from Moody's and S&P Global Ratings.
Columbia Property Trust (NYSE: CXP) announced the appointment of Constance B. Moore as chair of its board of directors, effective December 31, 2020. Moore, an independent director since 2017, succeeds John L. Dixon, who will remain on the board. Moore brings over 40 years of real estate experience, having previously served as CEO of BRE Properties and held executive roles at Security Capital Group. Columbia operates 15 properties totaling approximately 7 million square feet and is focused on growth in key markets like New York and San Francisco.
Columbia Property Trust (NYSE: CXP) has declared a quarterly cash dividend of $0.21 per share for Q4 2020, amounting to $0.84 annually. The dividend is scheduled for payment on January 8, 2021, to shareholders recorded by December 1, 2020. Columbia Property Trust specializes in owning and managing Class-A office buildings across major U.S. cities, boasting a portfolio of 15 properties and six million rentable square feet. The company has investment-grade ratings from both Moody’s and S&P Global Ratings.
Columbia Property Trust (NYSE: CXP) provided its quarterly update for the period ending September 30, 2020. Key highlights include:
- Net Income per share and Normalized FFO per share aligning with prior full-year guidance.
- Increased guidance metrics.
- 96.3% of the portfolio leased, with total rent collections at 97.6%.
- Extended a prepaid ground lease in Boston to 2119 for $10 million.
- Expanded partnership with Allianz, selling a 45% interest in 221 Main Street for $180 million.
Full results are available in the Supplemental Information package.
Columbia Property Trust (NYSE: CXP) and Allianz Real Estate have formed a joint venture, recapitalizing 221 Main Street, San Francisco, with Allianz investing $180 million for a 45% stake. The property, valued at $400 million, is a fully-leased, 381,000-square-foot office building primarily occupied by tech firms like DocuSign. This venture marks their fifth collaboration, contributing to a collective gross asset value of approximately $2.3 billion across five office assets. Columbia will maintain a 55% stake and will manage the venture.
Columbia Property Trust (NYSE: CXP) will release its financial results for the period ending September 30, 2020, after market close on October 29, 2020. A live audio webcast and conference call will take place at 5:00 p.m. ET on the same day. Interested parties can access the call through the company's Investor Relations website.
Columbia Property Trust focuses on owning and managing Class-A office buildings in major cities, boasting a portfolio of 15 properties with approximately seven million rentable square feet and four additional properties under development.