Shares of Columbia Property Trust Inc (NYSE:CXP) have received an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.50.
Several brokerages have commented on CXP. BMO Capital Markets restated a “buy” rating and issued a $25.00 target price on shares of Columbia Property Trust in a research note on Thursday, February 15th. SunTrust Banks set a $22.00 target price on Columbia Property Trust and gave the stock a “hold” rating in a research note on Monday, January 22nd. Zacks Investment Research downgraded Columbia Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $22.00 target price on shares of Columbia Property Trust in a research note on Thursday, December 14th.
Columbia Property Trust (NYSE CXP) opened at $21.73 on Tuesday. Columbia Property Trust has a 12 month low of $20.01 and a 12 month high of $23.44. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2,605.38, a PE ratio of 14.99 and a beta of 1.05.
Columbia Property Trust (NYSE:CXP) last issued its earnings results on Thursday, February 15th. The real estate investment trust reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. Columbia Property Trust had a return on equity of 6.94% and a net margin of 60.91%. The business had revenue of $71.63 million during the quarter, compared to the consensus estimate of $64.63 million. During the same quarter last year, the company earned $0.37 EPS. The firm’s revenue was down 32.3% compared to the same quarter last year. equities analysts expect that Columbia Property Trust will post 1.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.68%. Columbia Property Trust’s dividend payout ratio (DPR) is presently 55.17%.
In other Columbia Property Trust news, Director Richard W. Carpenter purchased 5,750 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was purchased at an average price of $22.97 per share, for a total transaction of $132,077.50. Following the transaction, the director now owns 20,298 shares in the company, valued at approximately $466,245.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CXP. Wells Fargo & Company MN boosted its position in shares of Columbia Property Trust by 48.6% during the 2nd quarter. Wells Fargo & Company MN now owns 75,478 shares of the real estate investment trust’s stock valued at $1,689,000 after acquiring an additional 24,683 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Columbia Property Trust by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,700,965 shares of the real estate investment trust’s stock valued at $38,067,000 after acquiring an additional 65,171 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Columbia Property Trust by 39.7% during the 3rd quarter. First Trust Advisors LP now owns 353,192 shares of the real estate investment trust’s stock valued at $7,689,000 after acquiring an additional 100,390 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Columbia Property Trust during the 3rd quarter valued at about $2,719,000. Finally, Csenge Advisory Group bought a new stake in shares of Columbia Property Trust during the 3rd quarter valued at about $1,058,000. Hedge funds and other institutional investors own 72.84% 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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