Columbia Property Trust, Inc. (CXP) Receives $24.00 Consensus Target Price from Analysts

Columbia Property Trust, Inc. (NYSE:CXP) has received an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $23.80.

CXP has been the subject of several recent research reports. BidaskClub raised Columbia Property Trust from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research raised Columbia Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price target on shares of Columbia Property Trust in a report on Friday, April 28th. Evercore ISI upgraded Columbia Property Trust from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $24.50 to $25.00 in a research report on Monday, March 27th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $21.00 price objective on shares of Columbia Property Trust in a research report on Thursday, June 22nd.

A number of hedge funds have recently bought and sold shares of CXP. Clean Yield Group bought a new stake in Columbia Property Trust during the second quarter worth $4,025,000. Colony Group LLC increased its stake in Columbia Property Trust by 29.6% in the first quarter. Colony Group LLC now owns 141,520 shares of the real estate investment trust’s stock worth $3,149,000 after buying an additional 32,326 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in Columbia Property Trust by 2.0% in the first quarter. Tudor Investment Corp ET AL now owns 20,807 shares of the real estate investment trust’s stock worth $463,000 after buying an additional 411 shares during the period. Jane Street Group LLC acquired a new stake in Columbia Property Trust during the first quarter worth $361,000. Finally, Paloma Partners Management Co raised its stake in Columbia Property Trust by 111.3% in the first quarter. Paloma Partners Management Co now owns 64,786 shares of the real estate investment trust’s stock worth $1,441,000 after buying an additional 34,121 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Shares of Columbia Property Trust (NYSE CXP) opened at 22.63 on Tuesday. The firm’s 50-day moving average is $21.98 and its 200 day moving average is $22.15. The firm has a market cap of $2.77 billion, a PE ratio of 18.28 and a beta of 1.17. Columbia Property Trust has a 52 week low of $20.27 and a 52 week high of $24.63.

Columbia Property Trust (NYSE:CXP) last announced its earnings results on Thursday, April 27th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $100.52 million. Columbia Property Trust had a return on equity of 6.02% and a net margin of 35.49%. The firm’s revenue for the quarter was down 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS.

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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.

Analyst Recommendations for Columbia Property Trust (NYSE:CXP)

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