Columbia Property Trust (NYSE:CXP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage presently has a $25.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.05% from the stock’s current price.
According to Zacks, “Columbia Property Trust, Inc. operates as a real estate investment trust. It focuses on the acquisition, development, ownership, leasing and operation of office properties in primary U.S. markets. Columbia Property Trust, Inc. is headquartered in Atlanta, GA. “
Columbia Property Trust stock opened at $21.73 on Tuesday. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 13.93 and a beta of 0.99. Columbia Property Trust has a 52-week low of $18.08 and a 52-week high of $25.07. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.51.
Columbia Property Trust (NYSE:CXP) last released its earnings results on Thursday, April 25th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.35). The business had revenue of $75.43 million for the quarter, compared to analyst estimates of $72.75 million. Columbia Property Trust had a return on equity of 0.42% and a net margin of 3.84%. Columbia Property Trust’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. Equities analysts expect that Columbia Property Trust will post 1.41 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in CXP. Marshall Wace North America L.P. purchased a new position in shares of Columbia Property Trust in the 1st quarter valued at $25,000. Advisory Services Network LLC grew its position in shares of Columbia Property Trust by 22.2% in the 1st quarter. Advisory Services Network LLC now owns 14,162 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 2,571 shares during the last quarter. Ameritas Investment Corp purchased a new position in shares of Columbia Property Trust in the 1st quarter valued at $54,000. BlueCrest Capital Management Ltd grew its position in shares of Columbia Property Trust by 51.1% in the 1st quarter. BlueCrest Capital Management Ltd now owns 19,329 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 6,540 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Columbia Property Trust by 49.5% in the 1st quarter. Hsbc Holdings PLC now owns 31,786 shares of the real estate investment trust’s stock valued at $716,000 after buying an additional 10,521 shares during the last quarter. 74.23% of the stock is currently owned by 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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