Zacks Investment Research upgraded shares of Columbia Property Trust (NYSE:CXP) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. They currently have $25.00 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. “
Shares of NYSE:CXP opened at $21.96 on Tuesday. The company has a market cap of $2.54 billion, a PE ratio of 14.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.80 and a current ratio of 2.80. Columbia Property Trust has a 12 month low of $18.08 and a 12 month high of $25.07.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.35). The firm had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $72.75 million. Columbia Property Trust had a return on equity of 0.42% and a net margin of 3.84%. Columbia Property Trust’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. Analysts expect that Columbia Property Trust will post 1.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, May 31st. Columbia Property Trust’s dividend payout ratio (DPR) is 51.28%.
Several large investors have recently made changes to their positions in CXP. Executive Wealth Management LLC purchased a new stake in Columbia Property Trust in the 4th quarter valued at approximately $25,000. Marshall Wace North America L.P. purchased a new stake in Columbia Property Trust in the 1st quarter valued at approximately $25,000. NumerixS Investment Technologies Inc purchased a new stake in Columbia Property Trust in the 1st quarter valued at approximately $28,000. Resources Investment Advisors Inc. purchased a new stake in Columbia Property Trust in the 4th quarter valued at approximately $29,000. Finally, Ameritas Investment Corp purchased a new stake in Columbia Property Trust in the 1st quarter valued at approximately $54,000. 74.23% of the stock is currently owned by institutional investors and hedge funds.
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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