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 Thursday. Zacks Investment Research currently has $23.00 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. “
Other equities analysts have also recently issued research reports about the company. BMO Capital Markets restated a buy rating and set a $25.00 price target on shares of Columbia Property Trust in a report on Tuesday, January 9th. SunTrust Banks set a $22.00 price target on Columbia Property Trust and gave the company a hold rating in a report on Monday, January 22nd. Finally, Morgan Stanley restated an equal weight rating and set a $22.00 price target on shares of Columbia Property Trust in a report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Columbia Property Trust presently has an average rating of Hold and a consensus price target of $23.43.
Columbia Property Trust (NYSE:CXP) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $64.63 million. Columbia Property Trust had a return on equity of 6.94% and a net margin of 60.91%. The firm’s revenue for the quarter was down 32.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. equities analysts predict that Columbia Property Trust will post 1.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Wednesday, February 28th. Columbia Property Trust’s payout ratio is 55.17%.
Several large investors have recently bought and sold shares of CXP. Sei Investments Co. lifted its stake in shares of Columbia Property Trust by 15.8% in the 3rd quarter. Sei Investments Co. now owns 67,872 shares of the real estate investment trust’s stock valued at $1,478,000 after purchasing an additional 9,257 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Columbia Property Trust by 18.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,110,187 shares of the real estate investment trust’s stock valued at $89,479,000 after purchasing an additional 634,874 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Columbia Property Trust by 109.5% in the 3rd quarter. SG Americas Securities LLC now owns 14,326 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 7,487 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Columbia Property Trust by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 247,016 shares of the real estate investment trust’s stock valued at $5,377,000 after purchasing an additional 8,926 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Columbia Property Trust by 9.8% in the 3rd quarter. Legal & General Group Plc now owns 455,298 shares of the real estate investment trust’s stock valued at $9,910,000 after purchasing an additional 40,668 shares during the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades Columbia Property Trust (CXP) to Buy” was originally published by Ticker Report and is owned by of Ticker Report. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.tickerreport.com/banking-finance/3292359/zacks-investment-research-upgrades-columbia-property-trust-cxp-to-buy.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Columbia Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.