Zacks Investment Research upgraded shares of Columbia Property Trust (NYSE:CXP) from a hold rating to a buy rating in a research note issued to investors on Thursday, January 4th. They currently have $26.00 price objective on the real estate investment trust’s stock.
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. “
CXP has been the topic of several other research reports. Morgan Stanley restated an equal weight rating and issued a $22.00 target price on shares of Columbia Property Trust in a research note on Thursday, December 14th. JMP Securities upgraded shares of Columbia Property Trust from a market perform rating to an outperform rating and set a $26.00 price target on the stock in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $24.29.
Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.26. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.10%. The firm had revenue of $60.36 million for the quarter, compared to the consensus estimate of $75.43 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. equities analysts anticipate that Columbia Property Trust will post 1.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 1st were paid a $0.20 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.66%. Columbia Property Trust’s dividend payout ratio (DPR) is presently 47.62%.
In related news, Director Richard W. Carpenter purchased 5,750 shares of the stock in a transaction dated Tuesday, December 19th. The stock was bought at an average cost of $22.97 per share, with a total value of $132,077.50. Following the purchase, the director now directly owns 20,298 shares in the company, valued at approximately $466,245.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in Columbia Property Trust by 0.8% during the 2nd quarter. SG Americas Securities LLC now owns 6,839 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 51 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in Columbia Property Trust by 1.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,200 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 200 shares during the last quarter. First Allied Advisory Services Inc. boosted its position in Columbia Property Trust by 3.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 9,311 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Columbia Property Trust by 8.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,249 shares of the real estate investment trust’s stock worth $207,000 after acquiring an additional 701 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Columbia Property Trust by 21.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,568 shares of the real estate investment trust’s stock worth $325,000 after acquiring an additional 2,573 shares during the last quarter. 67.39% of the stock is owned by institutional investors and hedge funds.
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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