Zacks Investment Research downgraded shares of Columbia Property Trust (NYSE:CXP) from a buy rating to a hold rating in a research report released on Thursday.
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 subject of several other research reports. Morgan Stanley reissued an equal weight rating and set a $22.00 price objective on shares of Columbia Property Trust in a report on Thursday, December 14th. JMP Securities raised Columbia Property Trust from a market perform rating to an outperform rating and set a $26.00 price objective for the company in a report on Monday, October 30th. Finally, BMO Capital Markets reissued a buy rating and set a $25.00 price objective on shares of Columbia Property Trust in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Columbia Property Trust presently has an average rating of Hold and an average target price of $24.14.
Columbia Property Trust (NYSE:CXP) opened at $21.61 on Thursday. Columbia Property Trust has a twelve month low of $20.37 and a twelve month high of $23.48. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2,588.96, a PE ratio of 12.86 and a beta of 1.17.
Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.26. Columbia Property Trust had a return on equity of 8.10% and a net margin of 63.37%. The company had revenue of $60.36 million during the quarter, compared to analyst estimates of $75.43 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. research analysts forecast that Columbia Property Trust will post 1.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Friday, December 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, November 30th. Columbia Property Trust’s dividend payout ratio is currently 47.62%.
In other news, Director Richard W. Carpenter bought 5,750 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was acquired at an average price of $22.97 per share, with a total value of $132,077.50. Following the completion of the purchase, the director now directly owns 20,298 shares in the company, valued at $466,245.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CXP. TLP Group LLC purchased a new stake in Columbia Property Trust in the second quarter worth approximately $150,000. SG Americas Securities LLC boosted its stake in Columbia Property Trust by 0.8% in the second quarter. SG Americas Securities LLC now owns 6,839 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 51 shares in the last quarter. First Allied Advisory Services Inc. boosted its stake in Columbia Property Trust by 3.3% in the second quarter. First Allied Advisory Services Inc. now owns 9,311 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 296 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in Columbia Property Trust in the second quarter worth approximately $307,000. Finally, PNC Financial Services Group Inc. boosted its stake in Columbia Property Trust by 21.5% in the second quarter. PNC Financial Services Group Inc. now owns 14,568 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 2,573 shares in the last quarter. 67.40% of the stock is owned by institutional investors and hedge funds.
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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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