Shares of Columbia Property Trust Inc (NYSE:CXP) have been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $23.50.
A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Columbia Property Trust from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Morgan Stanley restated an “equal weight” rating and set a $22.00 price objective on shares of Columbia Property Trust in a research report on Thursday, December 14th. SunTrust Banks set a $22.00 price objective on shares of Columbia Property Trust and gave the company a “hold” rating in a research report on Monday, January 22nd. JMP Securities upgraded shares of Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a research report on Monday, October 30th. Finally, BMO Capital Markets restated a “buy” rating and set a $25.00 price objective on shares of Columbia Property Trust in a research report on Tuesday, January 9th.
Shares of Columbia Property Trust (NYSE CXP) traded down $0.09 during trading on Friday, reaching $21.87. 341,626 shares of the company were exchanged, compared to its average volume of 638,784. The company has a market capitalization of $2,630.89, a P/E ratio of 13.02 and a beta of 1.17. Columbia Property Trust has a 12 month low of $20.37 and a 12 month high of $23.48. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.52.
Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.26. The company had revenue of $60.36 million for the quarter, compared to the consensus estimate 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 firm earned $0.37 earnings per share. equities research analysts predict that Columbia Property Trust will post 1.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Friday, December 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.66%. Columbia Property Trust’s dividend payout ratio is currently 47.62%.
In other Columbia Property Trust news, Director Richard W. Carpenter bought 5,750 shares of Columbia Property Trust stock in a transaction on Tuesday, December 19th. The stock was acquired at an average cost 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CXP. JPMorgan Chase & Co. increased its stake in shares of Columbia Property Trust by 172.7% in the second quarter. JPMorgan Chase & Co. now owns 81,473 shares of the real estate investment trust’s stock worth $1,823,000 after purchasing an additional 51,592 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Columbia Property Trust by 48.6% in the second quarter. Wells Fargo & Company MN now owns 75,478 shares of the real estate investment trust’s stock worth $1,689,000 after purchasing an additional 24,683 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Columbia Property Trust by 39.4% in the second quarter. Ameriprise Financial Inc. now owns 238,090 shares of the real estate investment trust’s stock worth $5,328,000 after purchasing an additional 67,250 shares in the last quarter. BlackRock Inc. increased its stake in shares of Columbia Property Trust by 2.6% in the second quarter. BlackRock Inc. now owns 8,281,850 shares of the real estate investment trust’s stock worth $185,346,000 after purchasing an additional 208,882 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Columbia Property Trust by 25.0% in the second quarter. Amalgamated Bank now owns 22,201 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 4,439 shares in the last quarter. 67.45% of the stock is owned by institutional investors and hedge funds.
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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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