Columbia Property Trust Inc. (CXP) Rating Lowered to Hold at Zacks Investment Research
Columbia Property Trust Inc. (NYSE:CXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
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 research firms have also recently weighed in on CXP. TheStreet upgraded Columbia Property Trust from a “sell” rating to a “hold” rating in a report on Friday, June 3rd. BMO Capital Markets upgraded Columbia Property Trust from a “market perform” rating to an “outperform” rating and raised their price target for the company from $23.00 to $25.00 in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.75.
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Shares of Columbia Property Trust (NYSE:CXP) traded down 0.79% during midday trading on Tuesday, reaching $22.49. The company had a trading volume of 502,218 shares. Columbia Property Trust has a 1-year low of $19.34 and a 1-year high of $26.24. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 55.67 and a beta of 1.15. The firm’s 50 day moving average price is $23.74 and its 200-day moving average price is $22.30.
Columbia Property Trust (NYSE:CXP) last released its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.35. The business earned $127.93 million during the quarter, compared to analysts’ expectations of $127.96 million. Columbia Property Trust had a return on equity of 1.95% and a net margin of 9.58%. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Equities research analysts expect that Columbia Property Trust will post $0.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend was Tuesday, August 30th. Columbia Property Trust’s payout ratio is 300.01%.
Several large investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Columbia Property Trust during the second quarter worth about $116,000. Quantbot Technologies LP acquired a new stake in shares of Columbia Property Trust during the second quarter worth about $122,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 worth $123,000 after buying an additional 461 shares in the last quarter. BlackRock Japan Co. Ltd raised its stake 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 worth $145,000 after buying an additional 75 shares in the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in shares of Columbia Property Trust during the second quarter worth about $161,000. 60.62% of the stock is owned by institutional investors and hedge funds.
About Columbia Property Trust
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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