Columbia Property Trust (NYSE:CXP) was upgraded by equities research analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, May 8th, MarketBeat.com reports. The firm presently has a $21.00 price target on the real estate investment trust’s stock. Goldman Sachs’ price objective would indicate a potential downside of 1.82% from the company’s previous close.
Several other research firms have also weighed in on CXP. Zacks Investment Research lowered shares of Columbia Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. BMO Capital Markets restated a “buy” rating and set a $25.00 price target on shares of Columbia Property Trust in a research note on Tuesday, January 9th. Finally, SunTrust Banks set a $22.00 price target on shares of Columbia Property Trust and gave the company a “hold” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.17.
CXP opened at $21.39 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.19. Columbia Property Trust has a 1-year low of $21.45 and a 1-year high of $21.73. The company has a market capitalization of $2.56 billion, a PE ratio of 17.40 and a beta of 1.03.
Columbia Property Trust (NYSE:CXP) last posted its earnings results on Thursday, April 26th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). Columbia Property Trust had a return on equity of 3.94% and a net margin of 36.65%. The business had revenue of $73.71 million for the quarter, compared to analyst estimates of $70.21 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. analysts expect that Columbia Property Trust will post 1.45 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Cbre Clarion Securities LLC purchased a new stake in Columbia Property Trust during the fourth quarter valued at about $90,575,000. Centersquare Investment Management LLC bought a new stake in shares of Columbia Property Trust during the first quarter valued at about $42,199,000. Nuveen Asset Management LLC bought a new stake in shares of Columbia Property Trust during the first quarter valued at about $19,787,000. Mesirow Financial Investment Management Equity Management increased its position in shares of Columbia Property Trust by 636.2% during the fourth quarter. Mesirow Financial Investment Management Equity Management now owns 920,238 shares of the real estate investment trust’s stock valued at $21,118,000 after buying an additional 795,238 shares during the period. Finally, Jennison Associates LLC bought a new stake in shares of Columbia Property Trust during the fourth quarter valued at about $16,864,000. 72.78% of the stock is currently owned by institutional investors.
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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