Columbia Property Trust Inc. (CXP) to Post Q3 2016 Earnings of $0.33 Per Share, Oppenheimer Holdings Forecasts
Columbia Property Trust Inc. (NYSE:CXP) – Research analysts at Oppenheimer Holdings cut their Q3 2016 earnings per share estimates for shares of Columbia Property Trust in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst S. Manaker now expects that the brokerage will post earnings of $0.33 per share for the quarter, down from their previous forecast of $0.38. Oppenheimer Holdings also issued estimates for Columbia Property Trust’s Q2 2017 earnings at $0.43 EPS and Q3 2017 earnings at $0.41 EPS.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.35. The business earned $127.93 million during the quarter, compared to the consensus estimate of $127.96 million. Columbia Property Trust had a net margin of 9.58% and a return on equity of 1.95%. The business’s revenue was down 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS.
A number of other analysts have also issued reports on CXP. BMO Capital Markets upgraded shares of Columbia Property Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $23.00 to $25.00 in a research note on Thursday, June 2nd. TheStreet upgraded shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd. Finally, Zacks Investment Research upgraded shares of Columbia Property Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Monday, June 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $22.75.
Columbia Property Trust (NYSE:CXP) opened at 22.49 on Monday. The stock has a 50 day moving average of $23.70 and a 200-day moving average of $22.31. Columbia Property Trust has a one year low of $19.34 and a one year high of $26.24. The stock has a market cap of $2.78 billion, a P/E ratio of 55.67 and a beta of 1.15.
A number of hedge funds have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in Columbia Property Trust during the second quarter valued at $116,000. Quantbot Technologies LP purchased a new position in shares of Columbia Property Trust during the second quarter valued at about $122,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Columbia Property Trust by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,750 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 461 shares during the period. BlackRock Japan Co. Ltd increased its position in shares of Columbia Property Trust by 1.2% in the first quarter. BlackRock Japan Co. Ltd now owns 6,581 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 75 shares during the period. Finally, Pacad Investment Ltd. purchased a new position in shares of Columbia Property Trust during the second quarter valued at about $161,000. Hedge funds and other institutional investors own 60.60% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.20 annualized dividend and a yield of 5.34%. Columbia Property Trust’s payout ratio is 300.01%.
About Columbia Property Trust
Columbia Property Trust, Inc operates as a real estate investment trust (REIT) for federal income tax purposes. The Company conducts business through Columbia Property Trust Operating Partnership, L.P. (Columbia Property Trust OP), which acquires, develops, owns, leases and operates real properties through subsidiaries or through joint ventures.
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