Columbia Property Trust, Inc. (NYSE:CXP) issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01, Bloomberg Earnings reports. The company had revenue of $74.86 million for the quarter, compared to the consensus estimate of $79.51 million. Columbia Property Trust had a net margin of 37.27% and a return on equity of 5.55%. The firm’s revenue was down 41.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share.
Shares of Columbia Property Trust (CXP) traded down 1.20% during mid-day trading on Tuesday, reaching $21.43. The company had a trading volume of 398,501 shares. The firm’s 50-day moving average price is $22.16 and its 200 day moving average price is $22.29. Columbia Property Trust has a 52-week low of $20.27 and a 52-week high of $24.63. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 18.80 and a beta of 1.16.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.20 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.73%. Columbia Property Trust’s payout ratio is 70.18%.
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A number of institutional investors have recently bought and sold shares of CXP. Nationwide Fund Advisors raised its position in shares of Columbia Property Trust by 5.7% in the first quarter. Nationwide Fund Advisors now owns 379,184 shares of the real estate investment trust’s stock valued at $8,437,000 after buying an additional 20,440 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Columbia Property Trust by 34.2% in the fourth quarter. Teachers Advisors LLC now owns 270,768 shares of the real estate investment trust’s stock valued at $5,849,000 after buying an additional 69,019 shares in the last quarter. First Quadrant L P CA raised its position in shares of Columbia Property Trust by 225.4% in the first quarter. First Quadrant L P CA now owns 64,103 shares of the real estate investment trust’s stock valued at $1,426,000 after buying an additional 44,406 shares in the last quarter. Creative Planning raised its position in shares of Columbia Property Trust by 3.1% in the first quarter. Creative Planning now owns 11,449 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 345 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Columbia Property Trust during the first quarter valued at about $416,000. Institutional investors and hedge funds own 64.12% of the company’s stock.
CXP has been the subject of a number of analyst reports. BidaskClub raised Columbia Property Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 price target on shares of Columbia Property Trust in a report on Friday, April 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $21.00 price target on shares of Columbia Property Trust in a report on Thursday, June 22nd. Finally, Zacks Investment Research cut Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $24.33.
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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