Brokerages Set Columbia Property Trust, Inc. (CXP) Target Price at $24.17
Shares of Columbia Property Trust, Inc. (NYSE:CXP) have been given a consensus recommendation of “Hold” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.17.
Several equities research analysts have weighed in on CXP shares. BidaskClub downgraded shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, JMP Securities upgraded shares of Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Monday, October 30th.
Columbia Property Trust (CXP) traded down $0.08 on Friday, reaching $22.55. 449,000 shares of the company’s stock traded hands, compared to its average volume of 589,338. 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. The company has a market capitalization of $2,680.00, a P/E ratio of 19.02 and a beta of 1.17.
Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.26. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.10%. The firm had revenue of $60.36 million during the quarter, compared to the consensus estimate of $75.43 million. During the same period in the previous year, the firm posted $0.37 earnings per share. analysts forecast that Columbia Property Trust will post 1.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Thursday, November 30th. Columbia Property Trust’s dividend payout ratio is currently 47.62%.
Columbia Property Trust declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 8th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 7.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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Several hedge funds and other institutional investors have recently modified their holdings of CXP. TLP Group LLC acquired a new position in shares of Columbia Property Trust during the second quarter valued at about $150,000. SG Americas Securities LLC grew its holdings in shares of 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 valued at $153,000 after buying an additional 51 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 valued at $207,000 after buying an additional 701 shares during the last quarter. First Allied Advisory Services Inc. boosted 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 during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Columbia Property Trust during the second quarter worth about $213,000. Hedge funds and other institutional investors own 66.21% of the company’s stock.
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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