Columbia Property Trust Inc (CXP) Given Average Rating of “Hold” by Analysts
Shares of Columbia Property Trust Inc (NYSE:CXP) have been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.00.
CXP has been the topic of several recent analyst reports. Oppenheimer Holdings Inc. upgraded Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a research note on Tuesday, January 24th. CIBC raised Columbia Property Trust from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 24th. Goldman Sachs Group Inc raised Columbia Property Trust from a “sell” rating to a “neutral” rating and set a $22.00 price target on the stock in a report on Wednesday, February 22nd. BMO Capital Markets reissued a “buy” rating and set a $27.00 price target on shares of Columbia Property Trust in a report on Thursday, March 2nd. Finally, Evercore ISI raised 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.
ILLEGAL ACTIVITY NOTICE: “Columbia Property Trust Inc (CXP) Given Average Rating of “Hold” by Analysts” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2017/05/19/columbia-property-trust-inc-cxp-given-average-rating-of-hold-by-analysts.html.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Columbia Property Trust by 3,883.4% in the first quarter. BlackRock Inc. now owns 8,072,968 shares of the real estate investment trust’s stock worth $179,623,000 after buying an additional 7,870,304 shares during the period. Norges Bank bought a new stake in shares of Columbia Property Trust during the fourth quarter worth $27,971,000. Prudential Financial Inc. raised its stake in shares of Columbia Property Trust by 704.9% in the first quarter. Prudential Financial Inc. now owns 1,344,846 shares of the real estate investment trust’s stock worth $29,923,000 after buying an additional 1,177,771 shares during the period. Citadel Advisors LLC raised its stake in shares of Columbia Property Trust by 2,648.3% in the first quarter. Citadel Advisors LLC now owns 906,907 shares of the real estate investment trust’s stock worth $20,179,000 after buying an additional 873,908 shares during the period. Finally, Waterfront Capital Partners LLC bought a new stake in shares of Columbia Property Trust during the first quarter worth $19,219,000. 63.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Columbia Property Trust (NYSE:CXP) opened at 21.77 on Friday. The firm has a market cap of $2.67 billion, a PE ratio of 17.58 and a beta of 1.17. The firm has a 50-day moving average price of $22.46 and a 200-day moving average price of $21.98. Columbia Property Trust has a 52 week low of $20.16 and a 52 week high of $24.63.
Columbia Property Trust (NYSE:CXP) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Columbia Property Trust had a return on equity of 3.33% and a net margin of 17.80%. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $100.52 million. During the same period last year, the business posted $0.44 EPS. The company’s revenue was down 35.1% compared to the same quarter last year. On average, equities research analysts predict that Columbia Property Trust will post ($0.02) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Tuesday, May 30th. Columbia Property Trust’s dividend payout ratio (DPR) is presently 176.47%.
About Columbia Property Trust
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.
Receive News & Ratings for Columbia Property Trust Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Property Trust Inc and related companies with MarketBeat.com's FREE daily email newsletter.