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.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://transcriptdaily.com/2017/07/18/columbia-property-trust-inc-cxp-given-average-recommendation-of-hold-by-analysts-updated-updated-updated.html.
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.
Receive News & Ratings for Columbia Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Property Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.