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.

Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.35). Columbia Property Trust had a return on equity of 0.42% and a net margin of 3.84%. The company had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $72.75 million. During the same quarter last year, the company earned $0.38 EPS. Columbia Property Trust’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that Columbia Property Trust will post 1.41 earnings per share for the current fiscal year.

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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