Columbia Property Trust (NYSE:CXP) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Columbia Property Trust (NYSE:CXP) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. The firm currently has $25.00 price target on the real estate investment trust’s stock.
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. “
Shares of NYSE CXP opened at $21.86 on Tuesday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.51. Columbia Property Trust has a 1-year low of $18.08 and a 1-year high of $25.07. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 14.01 and a beta of 0.99.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, May 31st. This represents a $0.80 annualized dividend and a yield of 3.66%. Columbia Property Trust’s dividend payout ratio (DPR) is 51.28%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Centersquare Investment Management LLC acquired a new position in shares of Columbia Property Trust during the 1st quarter worth about $61,100,000. Norges Bank purchased a new position in shares of Columbia Property Trust during the 4th quarter worth approximately $27,428,000. Cohen & Steers Inc. purchased a new position in shares of Columbia Property Trust during the 4th quarter worth approximately $23,021,000. Westwood Holdings Group Inc. raised its stake in shares of Columbia Property Trust by 116.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,443,703 shares of the real estate investment trust’s stock worth $32,498,000 after buying an additional 777,814 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Columbia Property Trust by 95.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,194,500 shares of the real estate investment trust’s stock worth $26,888,000 after buying an additional 583,300 shares in the last quarter. Institutional investors own 74.23% of the company’s stock.
About Columbia Property Trust
Columbia Property Trust (NYSE: CXP) owns and operates Class-A office buildings concentrated in New York, San Francisco, and Washington, DC Its portfolio includes 19 properties with approximately nine million square feet. Columbia carries an investment-grade rating from both Moody's and Standard & Poor's.
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