Columbia Property Trust, Inc. (NYSE:CXP) Given Consensus Recommendation of “Hold” by Analysts
Columbia Property Trust, Inc. (NYSE:CXP) has received a consensus rating of “Hold” from the nine research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $23.80.
Several analysts recently issued reports on the company. Evercore ISI raised Columbia Property Trust from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $24.50 to $25.00 in a report on Monday, March 27th. Zacks Investment Research downgraded Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. BMO Capital Markets reissued a “buy” rating and issued a $26.00 price target on shares of Columbia Property Trust in a report on Friday, April 28th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $21.00 price target on shares of Columbia Property Trust in a report on Thursday, June 22nd. Finally, BidaskClub raised Columbia Property Trust from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd.
Shares of Columbia Property Trust (CXP) opened at 22.20 on Monday. The stock has a market cap of $2.72 billion, a PE ratio of 17.93 and a beta of 1.17. Columbia Property Trust has a 52 week low of $20.27 and a 52 week high of $24.63. The firm has a 50-day moving average price of $21.98 and a 200-day moving average price of $22.15.
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, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $82.16 million during the quarter, compared to analyst estimates of $100.52 million. Columbia Property Trust had a return on equity of 6.02% and a net margin of 35.49%. The business’s revenue was down 35.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.60%. The ex-dividend date was Tuesday, May 30th. Columbia Property Trust’s payout ratio is currently 64.52%.
A number of hedge funds have recently made changes to their positions in CXP. Vanguard Group Inc. boosted its position in shares of Columbia Property Trust by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,899,205 shares of the real estate investment trust’s stock valued at $420,507,000 after buying an additional 417,322 shares during the period. BlackRock Inc. boosted its position 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 valued at $179,623,000 after buying an additional 7,870,304 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Columbia Property Trust by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,635,794 shares of the real estate investment trust’s stock valued at $36,396,000 after buying an additional 111,597 shares during the period. Prudential Financial Inc. boosted its position 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 valued at $29,923,000 after buying an additional 1,177,771 shares during the period. Finally, Norges Bank purchased a new position in shares of Columbia Property Trust during the fourth quarter valued at about $27,971,000. 63.36% of the stock is currently owned by hedge funds and other institutional investors.
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.
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