Columbia Property Trust Inc. (CXP) Downgraded by Zacks Investment Research to “Hold”
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. “
Several other equities research analysts have also recently commented on the company. TheStreet raised Columbia Property Trust from a sell rating to a hold rating in a research note on Friday, June 3rd. BMO Capital Markets raised Columbia Property Trust from a market perform rating to an outperform rating and raised their price objective for the company from $23.00 to $25.00 in a research note on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Columbia Property Trust presently has a consensus rating of Hold and a consensus price target of $22.75.
Shares of Columbia Property Trust (NYSE:CXP) opened at 22.49 on Tuesday. The company has a market cap of $2.78 billion, a PE ratio of 55.67 and a beta of 1.15. The firm has a 50-day moving average price of $23.70 and a 200 day moving average price of $22.31. Columbia Property Trust has a 1-year low of $19.34 and a 1-year high of $26.24.
Columbia Property Trust (NYSE:CXP) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.13 by $0.35. Columbia Property Trust had a return on equity of 1.95% and a net margin of 9.58%. The business earned $127.93 million during the quarter, compared to analysts’ expectations of $127.96 million. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue was down 13.6% on a year-over-year basis. On average, equities analysts anticipate that Columbia Property Trust will post $0.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.34%. Columbia Property Trust’s payout ratio is 300.01%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. bought a new position in shares of Columbia Property Trust during the second quarter valued at about $116,000. Quantbot Technologies LP bought a new position in shares of Columbia Property Trust during the second quarter valued at about $122,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Columbia Property Trust by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,750 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 461 shares during the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of Columbia Property Trust by 1.2% in the first quarter. BlackRock Japan Co. Ltd now owns 6,581 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 75 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Columbia Property Trust during the second quarter valued at about $161,000. 60.60% of the stock is currently owned by institutional investors.
Columbia Property Trust Company Profile
Columbia Property Trust, Inc operates as a real estate investment trust (REIT) for federal income tax purposes. The Company conducts business through Columbia Property Trust Operating Partnership, L.P. (Columbia Property Trust OP), which acquires, develops, owns, leases and operates real properties through subsidiaries or through joint ventures.
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