Zacks Investment Research upgraded shares of Columbia Property Trust (NYSE:CXP) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. They currently have $25.00 price target on the real estate investment trust’s stock.

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 NYSE CXP opened at $21.62 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 13.86 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.

Columbia Property Trust (NYSE:CXP) last announced its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The company had revenue of $75.43 million during the quarter, compared to the consensus estimate of $72.75 million. Columbia Property Trust had a net margin of 3.84% and a return on equity of 0.42%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities analysts forecast that Columbia Property Trust will post 1.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd will be issued a $0.20 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.70%. Columbia Property Trust’s dividend payout ratio is currently 51.28%.

A number of hedge funds and other institutional investors have recently made changes to their positions in CXP. Xact Kapitalforvaltning AB increased its holdings in Columbia Property Trust by 33.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 25,218 shares of the real estate investment trust’s stock valued at $488,000 after acquiring an additional 6,300 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Columbia Property Trust by 14.0% in the 4th quarter. Advisors Asset Management Inc. now owns 18,465 shares of the real estate investment trust’s stock valued at $357,000 after acquiring an additional 2,268 shares during the last quarter. Rhumbline Advisers increased its holdings in Columbia Property Trust by 1.7% in the 4th quarter. Rhumbline Advisers now owns 127,141 shares of the real estate investment trust’s stock valued at $2,460,000 after acquiring an additional 2,149 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Columbia Property Trust by 13.9% in the 4th quarter. SG Americas Securities LLC now owns 20,850 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 2,538 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Columbia Property Trust by 1.9% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 147,464 shares of the real estate investment trust’s stock worth $2,853,000 after buying an additional 2,700 shares during the last quarter. Institutional investors own 74.23% of the company’s stock.

About Columbia Property Trust

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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