Columbia Property Trust (NYSE:CXP) Short Interest Down 7.1% in December

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.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were paid a $0.21 dividend. This is a boost from Columbia Property Trust’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.86%. Columbia Property Trust’s dividend payout ratio (DPR) is 53.85%.

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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