Zacks Investment Research Downgrades Columbia Property Trust (CXP) to Hold
Columbia Property Trust (NYSE:CXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Other research analysts also recently issued reports about the company. Morgan Stanley reissued an “equal weight” rating and issued a $22.00 price objective on shares of Columbia Property Trust in a research note on Thursday, December 14th. JMP Securities raised Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.57.
Columbia Property Trust (NYSE:CXP) last released its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.26. The company had revenue of $60.36 million for the quarter, compared to the consensus estimate of $75.43 million. Columbia Property Trust had a return on equity of 8.10% and a net margin of 63.37%. During the same quarter last year, the business posted $0.37 EPS. equities analysts expect that Columbia Property Trust will post 1.14 earnings per share for the current fiscal year.
In other Columbia Property Trust news, Director Richard W. Carpenter bought 5,750 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were purchased at an average price of $22.97 per share, for a total transaction of $132,077.50. Following the purchase, the director now directly owns 20,298 shares of the company’s stock, valued at $466,245.06. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. TLP Group LLC purchased a new stake in shares of Columbia Property Trust during the second quarter worth $150,000. SG Americas Securities LLC lifted its position in shares of Columbia Property Trust by 0.8% during the second quarter. SG Americas Securities LLC now owns 6,839 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 51 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Columbia Property Trust by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,249 shares of the real estate investment trust’s stock worth $207,000 after acquiring an additional 701 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in shares of Columbia Property Trust by 3.3% during the second quarter. First Allied Advisory Services Inc. now owns 9,311 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 296 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Columbia Property Trust during the second quarter worth $307,000. Institutional investors and hedge funds own 67.39% of the company’s stock.
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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