Columbia Property Trust, Inc. (NYSE:CXP) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.
Other research analysts have also issued research reports about the company. Goldman Sachs Group, Inc. (The) began coverage on Columbia Property Trust in a report on Thursday. They set a “neutral” rating and a $21.00 price objective on the stock. BMO Capital Markets set a $26.00 price objective on Columbia Property Trust and gave the company a “buy” rating in a report on Tuesday, March 28th. Evercore ISI raised 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 lowered Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four 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 $24.33.
Shares of Columbia Property Trust (NYSE:CXP) traded down 0.562% during mid-day trading on Thursday, hitting $22.115. The stock had a trading volume of 372,936 shares. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 17.863 and a beta of 1.18. The company has a 50-day moving average of $21.99 and a 200 day moving average of $22.12. Columbia Property Trust has a one year low of $20.27 and a one year high of $24.63.
Columbia Property Trust (NYSE:CXP) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $82.16 million for the quarter, compared to analyst estimates of $100.52 million. Columbia Property Trust had a return on equity of 6.02% and a net margin of 35.49%. The business’s revenue was down 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. On average, equities research analysts forecast that Columbia Property Trust will post $0.00 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.60%. Columbia Property Trust’s dividend payout ratio is currently 64.52%.
Several hedge funds have recently made changes to their positions in CXP. Thrivent Financial for Lutherans increased its stake in shares of Columbia Property Trust by 1,261.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 196,050 shares of the real estate investment trust’s stock worth $4,235,000 after buying an additional 181,650 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Columbia Property Trust by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,312 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 180 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Columbia Property Trust during the fourth quarter worth approximately $2,241,000. GSA Capital Partners LLP increased its stake in shares of Columbia Property Trust by 6.3% in the fourth quarter. GSA Capital Partners LLP now owns 10,700 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 632 shares in the last quarter. Finally, Menta Capital LLC increased its stake in shares of Columbia Property Trust by 59.0% in the fourth quarter. Menta Capital LLC now owns 35,644 shares of the real estate investment trust’s stock worth $770,000 after buying an additional 13,224 shares in the last quarter. Institutional investors own 63.36% of the company’s stock.
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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