Columbia Property Trust (NYSE:CXP) Receives $20.75 Average PT from Analysts

Columbia Property Trust (NYSE:CXP) has been given an average recommendation of “Hold” by the ten brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $20.75.

A number of brokerages recently issued reports on CXP. BidaskClub lowered Columbia Property Trust from a “buy” rating to a “hold” rating in a report on Friday, December 25th. Morgan Stanley increased their price objective on Columbia Property Trust from $13.50 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, December 14th. TheStreet raised Columbia Property Trust from a “d+” rating to a “c-” rating in a report on Wednesday, November 25th. Truist Financial reissued a “buy” rating on shares of Columbia Property Trust in a report on Monday, December 28th. Finally, Zacks Investment Research lowered Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, December 30th.

Shares of Columbia Property Trust stock traded up $0.18 on Wednesday, reaching $13.90. 512,684 shares of the company were exchanged, compared to its average volume of 608,734. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.84 and a current ratio of 3.84. The company’s 50-day moving average is $14.21 and its two-hundred day moving average is $12.45. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -276.00 and a beta of 1.31. Columbia Property Trust has a 1-year low of $7.63 and a 1-year high of $22.71.

Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $82.10 million for the quarter, compared to analysts’ expectations of $74.65 million. Columbia Property Trust had a negative return on equity of 0.19% and a negative net margin of 1.64%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. As a group, sell-side analysts forecast that Columbia Property Trust will post 1.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 8th. Shareholders of record on Tuesday, December 1st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date was Monday, November 30th. Columbia Property Trust’s payout ratio is currently 56.00%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Sound Income Strategies LLC boosted its stake in shares of Columbia Property Trust by 376.0% during the 4th quarter. Sound Income Strategies LLC now owns 31,737 shares of the real estate investment trust’s stock worth $455,000 after acquiring an additional 25,070 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Columbia Property Trust by 63.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 34,700 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 13,520 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Columbia Property Trust by 3.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 81,940 shares of the real estate investment trust’s stock worth $894,000 after acquiring an additional 3,028 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Columbia Property Trust by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 319,714 shares of the real estate investment trust’s stock worth $3,488,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Paloma Partners Management Co boosted its stake in shares of Columbia Property Trust by 12.7% during the 3rd quarter. Paloma Partners Management Co now owns 35,705 shares of the real estate investment trust’s stock worth $390,000 after acquiring an additional 4,026 shares in the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Columbia Property Trust (NYSE:CXP)

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