Columbia Property Trust (NYSE:CXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report 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. “
Several other equities research analysts have also recently weighed in on CXP. BMO Capital Markets restated a “buy” rating and issued a $25.00 price target on shares of Columbia Property Trust in a research report on Tuesday, January 9th. SunTrust Banks set a $22.00 price target on shares of Columbia Property Trust and gave the stock a “hold” rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $23.17.
Columbia Property Trust stock opened at $20.51 on Wednesday. The company has a market cap of $2,487.88, a PE ratio of 17.99 and a beta of 1.03. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.70. Columbia Property Trust has a 1 year low of $19.55 and a 1 year high of $23.31.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. Columbia Property Trust had a net margin of 60.91% and a return on equity of 6.94%. The company had revenue of $71.63 million for the quarter, compared to analysts’ expectations of $64.63 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. Columbia Property Trust’s quarterly revenue was down 32.3% on a year-over-year basis. analysts anticipate that Columbia Property Trust will post 1.44 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC boosted its stake in Columbia Property Trust by 57.9% during the fourth quarter. LPL Financial LLC now owns 105,723 shares of the real estate investment trust’s stock worth $2,426,000 after buying an additional 38,765 shares during the period. BlackRock Inc. boosted its stake in Columbia Property Trust by 2.3% during the fourth quarter. BlackRock Inc. now owns 8,685,141 shares of the real estate investment trust’s stock worth $199,324,000 after buying an additional 198,426 shares during the period. Wells Fargo & Company MN boosted its stake in Columbia Property Trust by 600.0% during the third quarter. Wells Fargo & Company MN now owns 528,370 shares of the real estate investment trust’s stock worth $11,503,000 after buying an additional 452,892 shares during the period. California Public Employees Retirement System boosted its stake in Columbia Property Trust by 8.2% during the fourth quarter. California Public Employees Retirement System now owns 484,981 shares of the real estate investment trust’s stock worth $11,130,000 after buying an additional 36,591 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Columbia Property Trust by 17.4% during the fourth quarter. Macquarie Group Ltd. now owns 757,488 shares of the real estate investment trust’s stock worth $17,362,000 after buying an additional 112,262 shares during the period. 70.27% of the stock is owned by institutional investors.
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About Columbia Property Trust
Columbia Property Trust (NYSE: CXP) owns and operates Class-A office buildings concentrated in New York, San Francisco, and Washington, DC Its portfolio includes 19 operating properties with over nine million square feet, as well as one property under redevelopment. Columbia carries an investment-grade rating from both Moody's and Standard & Poor's.
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