Columbia Property Trust (CXP) Upgraded to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Columbia Property Trust (NYSE:CXP) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

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. “

NYSE CXP opened at $22.13 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.80 and a quick ratio of 2.80. The company has a market cap of $2.59 billion, a P/E ratio of 14.19 and a beta of 1.00. 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 posted its quarterly earnings data on Thursday, April 25th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $75.43 million for the quarter, compared to the consensus estimate of $72.75 million. Columbia Property Trust had a return on equity of 0.42% and a net margin of 3.84%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. Research analysts forecast that Columbia Property Trust will post 1.39 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC raised its stake in shares of Columbia Property Trust by 49.5% during the 1st quarter. Hsbc Holdings PLC now owns 31,786 shares of the real estate investment trust’s stock worth $716,000 after acquiring an additional 10,521 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Columbia Property Trust by 8.2% during the 1st quarter. Geode Capital Management LLC now owns 1,646,793 shares of the real estate investment trust’s stock worth $37,069,000 after acquiring an additional 125,055 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Columbia Property Trust by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,787,397 shares of the real estate investment trust’s stock worth $40,235,000 after acquiring an additional 41,108 shares in the last quarter. Renaissance Technologies LLC grew its position in Columbia Property Trust by 95.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,194,500 shares of the real estate investment trust’s stock worth $26,888,000 after purchasing an additional 583,300 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Columbia Property Trust by 129.8% during the 1st quarter. AQR Capital Management LLC now owns 44,049 shares of the real estate investment trust’s stock worth $992,000 after purchasing an additional 24,877 shares during the last quarter. Hedge funds and other institutional investors own 74.65% 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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