Columbia Property Trust (CXP) Receiving Somewhat Favorable Media Coverage, Analysis Shows
Media headlines about Columbia Property Trust (NYSE:CXP) have been trending somewhat positive on Friday, Accern Sentiment reports. The research group scores the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Columbia Property Trust earned a news sentiment score of 0.13 on Accern’s scale. Accern also assigned news coverage about the real estate investment trust an impact score of 47.3419989389445 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Columbia Property Trust (CXP) opened at 21.16 on Friday. Columbia Property Trust has a 12 month low of $20.27 and a 12 month high of $24.63. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 18.56 and a beta of 1.16. The stock’s 50 day moving average is $21.93 and its 200-day moving average is $22.25.
Columbia Property Trust (NYSE:CXP) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $74.86 million during the quarter, compared to analysts’ expectations of $79.51 million. Columbia Property Trust had a net margin of 37.27% and a return on equity of 5.55%. Columbia Property Trust’s revenue was down 41.5% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Wednesday, August 30th. Columbia Property Trust’s dividend payout ratio (DPR) is 70.18%.
Columbia Property Trust announced that its board has initiated a share repurchase plan on Tuesday, August 8th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
A number of research firms recently weighed in on CXP. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $21.00 price objective on shares of Columbia Property Trust in a research report on Thursday, June 22nd. BidaskClub lowered shares of Columbia Property Trust from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 target price on shares of Columbia Property Trust in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.33.
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In related news, Director Thomas G. Wattles purchased 4,700 shares of Columbia Property Trust stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $21.27 per share, with a total value of $99,969.00. Following the purchase, the director now owns 21,166 shares of the company’s stock, valued at $450,200.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.
Columbia Property Trust Company Profile
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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