News stories about Columbia Property Trust (NYSE:CXP) have trended somewhat positive recently, Accern reports. Accern scores the sentiment of press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Columbia Property Trust earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 46.3666987999164 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Shares of Columbia Property Trust (CXP) opened at 21.38 on Friday. The stock has a market capitalization of $2.59 billion, a PE ratio of 18.75 and a beta of 1.16. The firm has a 50-day moving average of $21.18 and a 200 day moving average of $21.98. Columbia Property Trust has a 1-year low of $20.27 and a 1-year high of $23.48.
Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The firm had revenue of $74.86 million during the quarter, compared to analysts’ expectations of $79.51 million. Columbia Property Trust had a net margin of 37.27% and a return on equity of 5.55%. The firm’s revenue was down 41.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. On average, equities analysts anticipate that Columbia Property Trust will post $0.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.74%. Columbia Property Trust’s dividend payout ratio (DPR) is presently 70.18%.
Columbia Property Trust announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 8th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
CXP has been the subject of a number of recent research reports. BidaskClub raised shares of Columbia Property Trust from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research cut shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $21.00 price objective on shares of Columbia Property Trust in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.80.
In other news, Director Thomas G. Wattles purchased 4,700 shares of Columbia Property Trust stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average price of $21.27 per share, for a total transaction of $99,969.00. Following the transaction, the director now owns 21,166 shares in the company, valued at $450,200.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.
Columbia Property Trust Company Profile
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.
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