Columbia Property Trust (CXP) Upgraded at Zacks Investment Research
Columbia Property Trust (NYSE:CXP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $25.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.10% from the company’s previous close.
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 analysts also recently commented on CXP. JMP Securities raised shares of Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 target price for the company in a report on Monday, October 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 target price on shares of Columbia Property Trust in a report on Thursday, December 14th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $25.00 target price on shares of Columbia Property Trust in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.29.
Shares of Columbia Property Trust (NYSE:CXP) traded down $0.29 during mid-day trading on Wednesday, hitting $21.91. 907,919 shares of the company traded hands, compared to its average volume of 724,871. The company has a market cap of $2,650.00, a P/E ratio of 13.04 and a beta of 1.18. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.52. Columbia Property Trust has a 1-year low of $20.37 and a 1-year high of $23.48.
Columbia Property Trust (NYSE:CXP) last announced its earnings results on Thursday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.02 by $0.26. The business had revenue of $60.36 million during the quarter, compared to the consensus estimate of $75.43 million. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.10%. During the same quarter in the previous year, the firm posted $0.37 EPS. equities research analysts anticipate that Columbia Property Trust will post 1.14 earnings per share for the current fiscal year.
In other Columbia Property Trust news, Director Richard W. Carpenter acquired 5,750 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was acquired at an average price of $22.97 per share, for a total transaction of $132,077.50. Following the purchase, the director now directly owns 20,298 shares of the company’s stock, valued at $466,245.06. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. TLP Group LLC acquired a new stake in Columbia Property Trust in the 2nd quarter worth about $150,000. SG Americas Securities LLC raised its stake in Columbia Property Trust by 0.8% in 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. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Columbia Property Trust by 8.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,249 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 701 shares in the last quarter. First Allied Advisory Services Inc. raised its stake in Columbia Property Trust by 3.3% in 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 purchasing an additional 296 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in Columbia Property Trust in the 2nd quarter worth about $307,000. Institutional investors and hedge funds own 67.39% of the company’s stock.
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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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