Columbia Property Trust Inc. (CXP) Sees Unusually-High Trading Volume
Columbia Property Trust Inc. (NYSE:CXP) saw unusually-strong trading volume on Wednesday . Approximately 1,302,878 shares changed hands during trading, an increase of 58% from the previous session’s volume of 826,122 shares.The stock last traded at $22.74 and had previously closed at $22.49.
A number of analysts have issued reports on CXP shares. Zacks Investment Research raised Columbia Property Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Monday, June 27th. TheStreet raised Columbia Property Trust from a “sell” rating to a “hold” rating in a report on Friday, June 3rd. Finally, BMO Capital Markets raised Columbia Property Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $23.00 to $25.00 in a report on Thursday, June 2nd. One 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 company presently has an average rating of “Hold” and an average target price of $22.75.
The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 56.29 and a beta of 1.15. The firm’s 50 day moving average is $23.67 and its 200-day moving average is $22.32.
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Columbia Property Trust (NYSE:CXP) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.35. The business had revenue of $127.93 million for the quarter, compared to analyst estimates of $127.96 million. Columbia Property Trust had a return on equity of 1.95% and a net margin of 9.58%. The business’s quarterly revenue was down 13.6% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, analysts anticipate that Columbia Property Trust Inc. will post $0.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend was Tuesday, August 30th. Columbia Property Trust’s dividend payout ratio (DPR) is currently 300.01%.
Several hedge funds and other institutional investors have recently modified their holdings of CXP. Menta Capital LLC purchased a new position in shares of Columbia Property Trust during the first quarter valued at $1,319,000. BlackRock Japan Co. Ltd raised its position 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 valued at $145,000 after buying an additional 75 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Columbia Property Trust by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,551,913 shares of the real estate investment trust’s stock valued at $100,097,000 after buying an additional 25,018 shares during the period. BlackRock Group LTD raised its position in shares of Columbia Property Trust by 0.7% in the first quarter. BlackRock Group LTD now owns 834,451 shares of the real estate investment trust’s stock valued at $18,349,000 after buying an additional 6,204 shares during the period. Finally, BlackRock Inc. raised its position in shares of Columbia Property Trust by 14.7% in the first quarter. BlackRock Inc. now owns 130,435 shares of the real estate investment trust’s stock valued at $2,868,000 after buying an additional 16,750 shares during the period. 60.60% of the stock is currently owned by institutional investors and hedge funds.
Columbia Property Trust Company Profile
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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