Columbia Property Trust, Inc. (NYSE:CXP) has earned a consensus rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $24.17.
Several equities analysts recently issued reports on the company. JMP Securities raised Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a research report on Monday, October 30th. Zacks Investment Research raised Columbia Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, BidaskClub downgraded Columbia Property Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th.
In related news, Director Thomas G. Wattles purchased 4,700 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $21.27 per share, with a total value of $99,969.00. Following the transaction, the director now owns 21,166 shares of the company’s stock, valued at $450,200.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Columbia Property Trust by 600.0% during the 3rd quarter. Wells Fargo & Company MN now owns 528,370 shares of the real estate investment trust’s stock worth $11,503,000 after acquiring an additional 452,892 shares in the last quarter. Presima Inc. boosted its stake in shares of Columbia Property Trust by 1.8% during the 3rd quarter. Presima Inc. now owns 409,200 shares of the real estate investment trust’s stock worth $8,908,000 after acquiring an additional 7,100 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Columbia Property Trust during the 3rd quarter worth about $325,000. Legal & General Group Plc boosted its stake in shares of Columbia Property Trust by 9.8% during the 3rd quarter. Legal & General Group Plc now owns 455,298 shares of the real estate investment trust’s stock worth $9,910,000 after acquiring an additional 40,668 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Columbia Property Trust by 3.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 247,016 shares of the real estate investment trust’s stock worth $5,377,000 after acquiring an additional 8,926 shares in the last quarter. 66.00% of the stock is currently owned by institutional investors and hedge funds.
Columbia Property Trust (NYSE:CXP) opened at $22.49 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.59 and a quick ratio of 3.59. Columbia Property Trust has a 12-month low of $20.27 and a 12-month high of $23.48. The stock has a market capitalization of $2,694.39, a price-to-earnings ratio of 18.90 and a beta of 1.17.
Columbia Property Trust (NYSE:CXP) last released its earnings results on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.26. Columbia Property Trust had a return on equity of 8.10% and a net margin of 63.37%. The firm had revenue of $60.36 million for the quarter, compared to the consensus estimate of $75.43 million. During the same period in the prior year, the firm earned $0.37 EPS. research analysts predict that Columbia Property Trust will post 1.12 earnings per share for the current year.
Columbia Property Trust announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 8th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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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.
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