Zacks Investment Research Upgrades Columbia Property Trust (CXP) to Buy

Zacks Investment Research upgraded shares of Columbia Property Trust (NYSE:CXP) from a hold rating to a buy rating in a report published on Thursday, January 4th. The brokerage currently has $26.00 price objective on the real estate investment trust’s stock.

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 analysts have also recently weighed in on the stock. JMP Securities raised shares of Columbia Property Trust from a market perform rating to an outperform rating and set a $26.00 target price on the stock in a report on Monday, October 30th. Morgan Stanley reaffirmed an equal weight rating and issued a $22.00 target price on shares of Columbia Property Trust in a report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $24.29.

Shares of Columbia Property Trust (CXP) opened at $21.85 on Thursday. The stock has a market cap of $2,604.53, a PE ratio of 18.27 and a beta of 1.17. Columbia Property Trust has a 1 year low of $20.37 and a 1 year high of $23.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.59 and a current ratio of 3.59.

Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.26. The business had revenue of $60.36 million for the quarter, compared to analysts’ expectations of $75.43 million. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.10%. During the same quarter in the prior year, the company earned $0.37 earnings per share. research analysts expect that Columbia Property Trust will post 1.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Friday, December 1st were issued a $0.20 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.80 annualized dividend and a yield of 3.66%. Columbia Property Trust’s dividend payout ratio (DPR) is 47.62%.

In related news, Director Richard W. Carpenter acquired 5,750 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were bought at an average price of $22.97 per share, with a total value of $132,077.50. Following the completion of the acquisition, the director now owns 20,298 shares in the company, valued at $466,245.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. TLP Group LLC acquired a new stake in Columbia Property Trust during the second quarter worth approximately $150,000. SG Americas Securities LLC raised its holdings in Columbia Property Trust by 0.8% during the second quarter. SG Americas Securities LLC now owns 6,839 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 51 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Columbia Property Trust by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,249 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 701 shares in the last quarter. First Allied Advisory Services Inc. raised its holdings in Columbia Property Trust by 3.3% during the second quarter. First Allied Advisory Services Inc. now owns 9,311 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 296 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in Columbia Property Trust during the second quarter worth approximately $307,000. 67.39% of the stock is currently owned by institutional investors.

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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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