Columbia Property Trust (NYSE:CXP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $26.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.33% from the stock’s current price.

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. “

CXP has been the topic of several other research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $22.00 price target on shares of Columbia Property Trust in a report on Thursday, December 14th. JMP Securities upgraded shares of Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $24.57.

Shares of Columbia Property Trust (NYSE CXP) traded down $0.49 during trading hours on Thursday, reaching $22.35. 762,370 shares of the company traded hands, compared to its average volume of 592,767. Columbia Property Trust has a one year low of $20.37 and a one year 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 firm has a market cap of $2,680.00, a P/E ratio of 13.30 and a beta of 1.18.

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 for the quarter, topping the Thomson Reuters’ 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 company had revenue of $60.36 million for the quarter, compared to the consensus estimate of $75.43 million. During the same quarter in the prior year, the company earned $0.37 EPS. research analysts anticipate that Columbia Property Trust will post 1.14 EPS for the current year.

In other news, Director Richard W. Carpenter acquired 5,750 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were acquired at an average price of $22.97 per share, with a total value of $132,077.50. Following the purchase, the director now directly owns 20,298 shares of the company’s stock, valued at $466,245.06. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Columbia Property Trust by 0.8% during the 2nd 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 during the period. Thrivent Financial For Lutherans grew its stake in shares of Columbia Property Trust by 1.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,200 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 200 shares during the period. First Allied Advisory Services Inc. grew its stake in shares of Columbia Property Trust by 3.3% during the 2nd 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Columbia Property Trust by 8.2% during the 2nd 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 during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Columbia Property Trust by 21.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,568 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 2,573 shares during the period. 67.39% of the stock is currently 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.

Analyst Recommendations for Columbia Property Trust (NYSE:CXP)

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