Columbia Property Trust (NYSE:CXP) Raises Dividend to $0.21 Per Share

Columbia Property Trust (NYSE:CXP) declared a quarterly dividend on Thursday, December 5th, Wall Street Journal reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.21 per share by the real estate investment trust on Tuesday, January 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, December 13th. This is a boost from Columbia Property Trust’s previous quarterly dividend of $0.20.

Shares of NYSE CXP traded up $0.23 during trading hours on Friday, reaching $21.08. The stock had a trading volume of 9,809 shares, compared to its average volume of 545,864. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.42. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 13.47 and a beta of 0.88. The business’s fifty day moving average price is $20.49 and its two-hundred day moving average price is $21.15. Columbia Property Trust has a 52-week low of $18.08 and a 52-week high of $23.21.

Columbia Property Trust (NYSE:CXP) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $71.95 million for the quarter, compared to the consensus estimate of $65.44 million. Columbia Property Trust had a return on equity of 1.32% and a net margin of 12.17%. Columbia Property Trust’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Equities research analysts anticipate that Columbia Property Trust will post 1.48 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on CXP. Zacks Investment Research downgraded Columbia Property Trust from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets downgraded Columbia Property Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Thursday, October 17th. Finally, Goldman Sachs Group started coverage on shares of Columbia Property Trust in a research note on Friday, November 8th. They issued a “neutral” rating and a $22.00 price objective for the company.

Columbia Property Trust Company Profile

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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Dividend History for Columbia Property Trust (NYSE:CXP)

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