Columbia Property Trust (NYSE:CXP) issued its earnings results on Thursday. The real estate investment trust reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.16), Fidelity Earnings reports. Columbia Property Trust had a return on equity of 1.32% and a net margin of 12.17%. The firm had revenue of $68.73 million during the quarter, compared to the consensus estimate of $67.36 million. During the same period last year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. Columbia Property Trust updated its FY 2020
After-Hours guidance to 1.46-1.51 EPS and its FY20 guidance to $1.46-1.51 EPS.
Columbia Property Trust stock traded down $0.08 during mid-day trading on Friday, hitting $22.39. 473,384 shares of the company were exchanged, compared to its average volume of 741,513. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average of $21.39 and a 200 day moving average of $21.01. Columbia Property Trust has a 1-year low of $19.64 and a 1-year high of $23.21. The company has a market capitalization of $2.60 billion, a PE ratio of 72.23 and a beta of 0.88.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 3.75%. Columbia Property Trust’s dividend payout ratio is currently 53.85%.
Several research analysts have issued reports on CXP shares. SunTrust Banks upgraded Columbia Property Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, January 15th. Morgan Stanley dropped their price objective on Columbia Property Trust from $22.50 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. BMO Capital Markets lowered Columbia Property Trust from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $23.00 to $22.00 in a research note on Thursday, October 17th. Goldman Sachs Group started coverage on Columbia Property Trust in a research note on Friday, November 8th. They set a “neutral” rating and a $22.00 price objective for the company. Finally, Zacks Investment Research lowered Columbia Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $22.60.
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 properties with approximately nine million square feet. Columbia carries an investment-grade rating from both Moody's and Standard & Poor's.
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