Columbia Property Trust, Inc. (NYSE:CXP) Announces Quarterly Dividend of $0.20
Columbia Property Trust, Inc. (NYSE:CXP) announced a quarterly dividend on Monday, August 7th, Wall Street Journal reports. Shareholders of record on Friday, September 1st will be paid a dividend of 0.20 per share by the real estate investment trust on Friday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Wednesday, August 30th.
Columbia Property Trust has a payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbia Property Trust to earn $0.18 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 444.4%.
Shares of Columbia Property Trust (NYSE:CXP) traded down 0.14% during mid-day trading on Monday, reaching $21.69. The company’s stock had a trading volume of 350,071 shares. Columbia Property Trust has a 12-month low of $20.27 and a 12-month high of $24.63. The firm’s 50-day moving average price is $22.20 and its 200 day moving average price is $22.31. The firm has a market cap of $2.63 billion, a P/E ratio of 19.03 and a beta of 1.16.
Columbia Property Trust (NYSE:CXP) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $74.86 million for the quarter, compared to analysts’ expectations of $79.51 million. Columbia Property Trust had a net margin of 37.27% and a return on equity of 5.55%. The business’s quarterly revenue was down 41.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 EPS.
CXP has been the subject of a number of recent research reports. BidaskClub upgraded Columbia Property Trust from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price objective on shares of Columbia Property Trust in a research note on Friday, April 28th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $21.00 price objective on shares of Columbia Property Trust in a research note on Thursday, June 22nd. Finally, Zacks Investment Research lowered Columbia Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.33.
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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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