Columbia Property Trust (CXP) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Columbia Property Trust (NYSE:CXP) from a hold rating to a sell rating in a report released on Wednesday morning.

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. “

Shares of Columbia Property Trust stock traded down $0.14 during trading hours on Wednesday, hitting $21.49. The company’s stock had a trading volume of 899,468 shares, compared to its average volume of 641,143. Columbia Property Trust has a 12-month low of $18.08 and a 12-month high of $25.07. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 13.78 and a beta of 1.06. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.48.

Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.33). Columbia Property Trust had a net margin of 3.19% and a return on equity of 0.34%. The business had revenue of $75.52 million during the quarter, compared to analysts’ expectations of $73.26 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Columbia Property Trust’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that Columbia Property Trust will post 1.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.72%. Columbia Property Trust’s dividend payout ratio is currently 51.28%.

Several large investors have recently bought and sold shares of the stock. Daiwa Securities Group Inc. lifted its position in shares of Columbia Property Trust by 5.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 18,700 shares of the real estate investment trust’s stock worth $362,000 after buying an additional 900 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Columbia Property Trust by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 51,382 shares of the real estate investment trust’s stock worth $993,000 after buying an additional 954 shares in the last quarter. LPL Financial LLC lifted its position in shares of Columbia Property Trust by 0.8% in the fourth quarter. LPL Financial LLC now owns 120,949 shares of the real estate investment trust’s stock worth $2,340,000 after buying an additional 976 shares in the last quarter. Eii Capital Management Inc. lifted its position in shares of Columbia Property Trust by 7.6% in the fourth quarter. Eii Capital Management Inc. now owns 14,525 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 1,021 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Columbia Property Trust by 5.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,980 shares of the real estate investment trust’s stock worth $395,000 after buying an additional 1,072 shares in the last quarter. Institutional investors own 74.42% of the company’s stock.

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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