Columbia Property Trust Inc. (CXP) Cut to “Hold” at Zacks Investment Research
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. “
Several other research analysts have also recently issued reports on CXP. BMO Capital Markets upgraded shares of Columbia Property Trust from a market perform rating to an outperform rating and increased their price objective for the company from $23.00 to $25.00 in a report on Thursday, June 2nd. TheStreet upgraded shares of Columbia Property Trust from a sell rating to a hold rating in a report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Columbia Property Trust currently has an average rating of Hold and a consensus price target of $22.75.
Columbia Property Trust (NYSE:CXP) opened at 23.06 on Tuesday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 57.08 and a beta of 1.15. Columbia Property Trust has a one year low of $19.34 and a one year high of $26.24. The firm has a 50-day moving average price of $23.65 and a 200 day moving average price of $22.32.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.13 by $0.35. Columbia Property Trust had a net margin of 9.58% and a return on equity of 1.95%. The company had revenue of $127.93 million for the quarter, compared to analyst estimates of $127.96 million. During the same quarter last year, the business earned $0.53 earnings per share. Columbia Property Trust’s revenue was down 13.6% compared to the same quarter last year. Equities research analysts anticipate that Columbia Property Trust will post $0.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Tuesday, August 30th. Columbia Property Trust’s payout ratio is 300.01%.
Hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Columbia Property Trust during the second quarter worth $116,000. Quantbot Technologies LP acquired a new stake in shares of Columbia Property Trust during the second quarter worth $122,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $123,000 after buying an additional 461 shares during the last quarter. BlackRock Japan Co. Ltd boosted its stake 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 worth $145,000 after buying an additional 75 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in shares of Columbia Property Trust during the second quarter worth $161,000. Hedge funds and other institutional investors own 60.60% of the company’s stock.
Columbia Property Trust Company Profile
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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