Is Columbia Property Trust Inc (CXP) A Good Stock To Buy?

Judging by the fact that Columbia Property Trust Inc (NYSE:CXP) has gone through a decline in interest from hedge fund managers, we can see that there exists a select few fund managers that elected to cut their entire stakes last quarter. Intriguingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital got rid of the largest position of all the hedgies studied by Insider Monkey, comprising an estimated $1.3 million in stock, and John Overdeck and David Siegel’s Two Sigma Advisors was right behind this move, as the fund said goodbye to about $0.3 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to Columbia Property Trust Inc (NYSE:CXP). We will take a look at Terex Corporation (NYSE:TEX), Clean Harbors Inc (NYSE:CLH), IBERIABANK Corporation (NASDAQ:IBKC), and The Timken Company (NYSE:TKR). This group of stocks’ market valuations are closest to CXP’s market valuation.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $187 million. That figure was $84 million in CXP’s case. The Timken Company (NYSE:TKR) is the most popular stock in this table. On the other hand Clean Harbors Inc (NYSE:CLH) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Columbia Property Trust Inc (NYSE:CXP) is even less popular than CLH. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None