Columbia Property Trust (NYSE:CXP) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Columbia Property Trust (NYSE:CXP) from a buy rating to a hold rating in a research report released on Wednesday, January 3rd.
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. “
A number of other brokerages have also commented on CXP. JMP Securities raised Columbia Property Trust from a market perform rating to an outperform rating and set a $26.00 price objective on the stock in a report on Monday, October 30th. Morgan Stanley reissued an equal weight rating and set a $22.00 price objective on shares of Columbia Property Trust in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Columbia Property Trust has an average rating of Hold and a consensus price target of $23.57.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Friday, December 1st were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.80 annualized dividend and a yield of 3.68%. Columbia Property Trust’s payout ratio is 47.62%.
In other Columbia Property Trust news, Director Richard W. Carpenter bought 5,750 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was purchased at an average price of $22.97 per share, for a total transaction of $132,077.50. Following the purchase, the director now directly owns 20,298 shares in the company, valued at $466,245.06. 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 owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CXP. Ameriprise Financial Inc. lifted its position in shares of Columbia Property Trust by 39.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 238,090 shares of the real estate investment trust’s stock worth $5,328,000 after buying an additional 67,250 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Columbia Property Trust during the 2nd quarter worth approximately $9,026,000. BlackRock Inc. lifted its position in shares of Columbia Property Trust by 2.6% during the 2nd quarter. BlackRock Inc. now owns 8,281,850 shares of the real estate investment trust’s stock worth $185,346,000 after buying an additional 208,882 shares during the period. Sei Investments Co. lifted its position in shares of Columbia Property Trust by 15.8% during the 3rd quarter. Sei Investments Co. now owns 67,872 shares of the real estate investment trust’s stock worth $1,478,000 after buying an additional 9,257 shares during the period. Finally, Breton Hill Capital Ltd. lifted its position in shares of Columbia Property Trust by 14.2% during the 3rd quarter. Breton Hill Capital Ltd. now owns 42,873 shares of the real estate investment trust’s stock worth $933,000 after buying an additional 5,331 shares during the period. Institutional investors own 67.45% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Columbia Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.