Zacks Investment Research cut shares of Columbia Property Trust (NYSE:CXP) from a buy rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Columbia Property Trust, Inc. operates as a real estate investment trust. It focuses on the acquisition, development, ownership, leasing and operation of office properties in primary U.S. markets. Columbia Property Trust, Inc. is headquartered in Atlanta, GA. “
A number of other research firms have also commented on CXP. JMP Securities upgraded shares of Columbia Property Trust from a market perform rating to an outperform rating and set a $26.00 price objective on the stock in a research note on Monday, October 30th. Morgan Stanley restated an equal weight rating and issued a $22.00 price objective on shares of Columbia Property Trust in a research note on Thursday, December 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Columbia Property Trust has a consensus rating of Buy and a consensus target price of $24.57.
Columbia Property Trust (CXP) traded up $0.01 during midday trading on Wednesday, reaching $22.36. 485,155 shares of the company’s stock were exchanged, compared to its average volume of 778,196. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $2,680.00, a price-to-earnings ratio of 13.31 and a beta of 1.18. Columbia Property Trust has a one year low of $20.37 and a one year high of $23.48.
Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.26. The company had revenue of $60.36 million for the quarter, compared to analyst estimates of $75.43 million. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.10%. During the same period in the previous year, the business posted $0.37 earnings per share. research analysts anticipate that Columbia Property Trust will post 1.14 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Thursday, November 30th. Columbia Property Trust’s payout ratio is 47.62%.
In other news, Director Richard W. Carpenter bought 5,750 shares of the stock in a transaction dated Tuesday, December 19th. The shares were acquired at an average price of $22.97 per share, with a total value of $132,077.50. Following the completion of the acquisition, the director now directly owns 20,298 shares in the company, valued at $466,245.06. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in shares of Columbia Property Trust by 39.4% in the second quarter. Ameriprise Financial Inc. now owns 238,090 shares of the real estate investment trust’s stock valued at $5,328,000 after acquiring an additional 67,250 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Columbia Property Trust in the second quarter valued at about $9,026,000. BlackRock Inc. boosted its holdings in shares of Columbia Property Trust by 2.6% in the second quarter. BlackRock Inc. now owns 8,281,850 shares of the real estate investment trust’s stock valued at $185,346,000 after acquiring an additional 208,882 shares in the last quarter. Breton Hill Capital Ltd. boosted its holdings in shares of Columbia Property Trust by 14.2% in the third quarter. Breton Hill Capital Ltd. now owns 42,873 shares of the real estate investment trust’s stock valued at $933,000 after acquiring an additional 5,331 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Columbia Property Trust by 5.8% in the second quarter. Swiss National Bank now owns 204,045 shares of the real estate investment trust’s stock valued at $4,567,000 after acquiring an additional 11,200 shares in the last quarter. 67.39% of the stock is currently owned by institutional investors and hedge funds.
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About Columbia Property Trust
Columbia Property Trust, Inc operates as a real estate investment trust (REIT), which owns and operates commercial real estate properties. The Company’s primary objective is to generate long-term shareholder returns from a combination of steadily growing cash flows and appreciation in its net asset values, through the acquisition and ownership of office buildings located principally in high-barrier-to-entry markets.
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