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 report released on Thursday.

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. “

CXP has been the subject of several other reports. Morgan Stanley reissued an “equal weight” rating and set a $22.00 price objective on shares of Columbia Property Trust in a research note on Thursday, December 14th. JMP Securities upgraded Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 target price for the company in a report on Monday, October 30th. Finally, BMO Capital Markets restated a “buy” rating and issued a $25.00 target price on shares of Columbia Property Trust in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $24.14.

Columbia Property Trust (NYSE CXP) traded down $0.33 on Thursday, hitting $21.35. The stock had a trading volume of 615,974 shares, compared to its average volume of 721,308. The company has a market cap of $2,596.14, a price-to-earnings ratio of 12.71 and a beta of 1.17. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.52. Columbia Property Trust has a 1-year low of $20.37 and a 1-year high of $23.48.

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, topping the consensus estimate of $0.02 by $0.26. The business had revenue of $60.36 million during the quarter, compared to analyst estimates 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 period last year, the company posted $0.37 EPS. equities research analysts expect that Columbia Property Trust will post 1.14 EPS for the current fiscal year.

In other Columbia Property Trust news, Director Richard W. Carpenter bought 5,750 shares of Columbia Property Trust stock in a transaction dated Tuesday, December 19th. The stock was bought at an average price of $22.97 per share, for a total transaction of $132,077.50. Following the completion of the acquisition, the director now directly owns 20,298 shares of the company’s stock, valued at $466,245.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CXP. SG Americas Securities LLC lifted its holdings in shares of Columbia Property Trust by 0.8% in the second quarter. SG Americas Securities LLC now owns 6,839 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 51 shares in the last quarter. Swiss National Bank raised its holdings in shares of Columbia Property Trust by 5.8% during the second quarter. Swiss National Bank now owns 204,045 shares of the real estate investment trust’s stock worth $4,567,000 after acquiring an additional 11,200 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Columbia Property Trust by 172.7% during the second quarter. JPMorgan Chase & Co. now owns 81,473 shares of the real estate investment trust’s stock worth $1,823,000 after acquiring an additional 51,592 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Columbia Property Trust by 48.6% during the second quarter. Wells Fargo & Company MN now owns 75,478 shares of the real estate investment trust’s stock worth $1,689,000 after acquiring an additional 24,683 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Columbia Property Trust by 11.9% during the second quarter. Alliancebernstein L.P. now owns 1,067,889 shares of the real estate investment trust’s stock worth $23,899,000 after acquiring an additional 113,759 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

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Columbia Property Trust Company Profile

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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