Columbia Property Trust (CXP) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Columbia Property Trust (NYSE:CXP) from a buy rating to a hold rating in a research note published on Thursday.
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. “
A number of other brokerages have also recently issued reports on CXP. BMO Capital Markets reissued a buy rating and issued a $25.00 price objective on shares of Columbia Property Trust in a research note on Tuesday, January 9th. JMP Securities raised 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 note on Monday, October 30th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $22.00 target price on shares of Columbia Property Trust in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Columbia Property Trust presently has an average rating of Hold and a consensus price target of $24.14.
Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $0.37 earnings per share. sell-side analysts predict that Columbia Property Trust will post 1.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Friday, December 1st were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.70%. Columbia Property Trust’s payout ratio is presently 47.62%.
In related news, Director Richard W. Carpenter bought 5,750 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were purchased at an average price of $22.97 per share, with a total value of $132,077.50. Following the completion of the purchase, the director now owns 20,298 shares in the company, valued at approximately $466,245.06. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.46% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its stake in shares of Columbia Property Trust by 8.3% during the fourth quarter. State of Alaska Department of Revenue now owns 75,190 shares of the real estate investment trust’s stock worth $1,724,000 after buying an additional 5,780 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Columbia Property Trust by 5.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,462,882 shares of the real estate investment trust’s stock worth $33,574,000 after buying an additional 74,163 shares during the last quarter. Clean Yield Group grew its stake in shares of Columbia Property Trust by 9.4% during the fourth quarter. Clean Yield Group now owns 273,650 shares of the real estate investment trust’s stock worth $6,280,000 after buying an additional 23,615 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Columbia Property Trust during the third quarter worth $1,582,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of Columbia Property Trust during the third quarter worth $362,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
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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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