Columbia Property Trust (NYSE:CXP) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,570,000 shares, a drop of 7.1% from the December 15th total of 1,690,000 shares. Based on an average daily trading volume, of 606,700 shares, the short-interest ratio is currently 2.6 days. Currently, 1.4% of the company’s stock are short sold.
Shares of NYSE:CXP traded up $0.12 during midday trading on Thursday, hitting $21.78. The stock had a trading volume of 15,137 shares, compared to its average volume of 543,746. The company has a market capitalization of $2.47 billion, a PE ratio of 13.92 and a beta of 0.88. The stock has a 50 day moving average price of $20.67 and a two-hundred day moving average price of $20.90. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.42. Columbia Property Trust has a 1 year low of $19.64 and a 1 year high of $23.21.
Columbia Property Trust (NYSE:CXP) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. Columbia Property Trust had a net margin of 12.17% and a return on equity of 1.32%. The business had revenue of $71.95 million for the quarter, compared to the consensus estimate of $65.44 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts expect that Columbia Property Trust will post 1.49 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new stake in shares of Columbia Property Trust in the first quarter valued at about $25,000. Prestige Wealth Management Group LLC acquired a new position in Columbia Property Trust during the second quarter worth about $26,000. Garrett Wealth Advisory Group LLC acquired a new position in Columbia Property Trust during the third quarter worth about $27,000. Tower Research Capital LLC TRC raised its position in Columbia Property Trust by 56.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,254 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 1,905 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in Columbia Property Trust during the second quarter worth about $118,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.
CXP has been the topic of several research reports. BMO Capital Markets downgraded shares of Columbia Property Trust from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $23.00 to $22.00 in a research report on Thursday, October 17th. Morgan Stanley lowered their target price on shares of Columbia Property Trust from $22.50 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Goldman Sachs Group began coverage on shares of Columbia Property Trust in a report on Friday, November 8th. They issued a “neutral” rating and a $22.00 target price on the stock. SunTrust Banks raised shares of Columbia Property Trust from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday. Finally, Zacks Investment Research downgraded shares of Columbia Property Trust from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Columbia Property Trust currently has a consensus rating of “Hold” and an average price target of $22.80.
About Columbia Property Trust
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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