Columbia Property Trust, Inc. (NYSE:CXP) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday, June 22nd.
Several other brokerages have also recently weighed in on CXP. BMO Capital Markets reaffirmed a “buy” rating and set a $27.00 price objective on shares of Columbia Property Trust in a research note on Thursday, March 2nd. Goldman Sachs Group, Inc. (The) upgraded shares of Columbia Property Trust from a “sell” rating to a “neutral” rating and set a $22.00 price objective on the stock in a report on Wednesday, February 22nd. Evercore ISI upgraded shares of Columbia Property Trust from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $24.50 to $25.00 in a report on Monday, March 27th. Finally, Zacks Investment Research raised shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, May 31st. Two 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 currently has a consensus rating of “Hold” and a consensus price target of $24.33.
Columbia Property Trust (NYSE:CXP) traded up 0.63% during trading on Thursday, hitting $22.25. The stock had a trading volume of 67,497 shares. Columbia Property Trust has a 12-month low of $20.27 and a 12-month high of $24.63. The firm has a market cap of $2.72 billion, a P/E ratio of 17.97 and a beta of 1.17. The stock’s 50 day moving average price is $21.98 and its 200 day moving average price is $22.15.
Columbia Property Trust (NYSE:CXP) last posted its earnings results on Thursday, April 27th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $100.52 million. Columbia Property Trust had a net margin of 35.49% and a return on equity of 6.02%. The firm’s revenue for the quarter was down 35.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Tuesday, May 30th. Columbia Property Trust’s payout ratio is 64.52%.
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Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in shares of Columbia Property Trust during the fourth quarter worth about $10,365,000. Cadence Capital Management LLC bought a new position in Columbia Property Trust during the fourth quarter worth about $249,000. Cipher Capital LP bought a new position in Columbia Property Trust during the fourth quarter worth about $234,000. State Street Corp raised its stake in shares of Columbia Property Trust by 1.9% in the fourth quarter. State Street Corp now owns 3,973,328 shares of the real estate investment trust’s stock worth $85,832,000 after buying an additional 75,228 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Columbia Property Trust by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,524,197 shares of the real estate investment trust’s stock worth $32,921,000 after buying an additional 123,530 shares during the period. 63.36% of the stock is currently owned by hedge funds and other institutional investors.
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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