BidaskClub upgraded shares of Columbia Property Trust, Inc. (NYSE:CXP) from a strong sell rating to a sell rating in a report published on Thursday.
Several other analysts also recently commented on CXP. BMO Capital Markets restated a buy rating and set a $26.00 target price on shares of Columbia Property Trust in a report on Friday, April 28th. Evercore ISI upgraded shares of Columbia Property Trust from an in-line rating to an outperform rating and raised their target price for the stock from $24.50 to $25.00 in a report on Monday, March 27th. Goldman Sachs Group, Inc. (The) upgraded shares of Columbia Property Trust from a sell rating to a neutral rating and set a $22.00 target price on the stock in a report on Wednesday, February 22nd. Finally, Zacks Investment Research downgraded shares of Columbia Property Trust from a hold rating to a sell rating in a report on Tuesday, June 6th. Two research 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. The company presently has a consensus rating of Hold and a consensus price target of $24.33.
Shares of Columbia Property Trust (NYSE CXP) traded up 0.54% during trading on Thursday, reaching $22.28. The company had a trading volume of 218,136 shares. Columbia Property Trust has a 52-week low of $20.27 and a 52-week high of $24.63. The company has a 50 day moving average of $21.99 and a 200-day moving average of $22.11. The firm has a market capitalization of $2.73 billion, a P/E ratio of 18.00 and a beta of 1.18.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $100.52 million. Columbia Property Trust had a net margin of 35.49% and a return on equity of 6.02%. Columbia Property Trust’s revenue for the quarter was down 35.1% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS.
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The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.80 annualized dividend and a yield of 3.61%. Columbia Property Trust’s dividend payout ratio (DPR) is currently 64.52%.
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of Columbia Property Trust by 34.2% in the first quarter. SG Americas Securities LLC now owns 6,788 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 1,731 shares during the period. Pacad Investment Ltd. increased its stake in shares of Columbia Property Trust by 5.4% in the fourth quarter. Pacad Investment Ltd. now owns 7,799 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 399 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Columbia Property Trust by 19.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,548 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 1,363 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Columbia Property Trust by 34.7% in the first quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 2,500 shares during the period. Finally, 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 valued at $223,000 after buying an additional 180 shares during the period. Hedge funds and other 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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