Columbia Property Trust (CXP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Columbia Property Trust (NYSE:CXP) from a hold rating to a sell rating in a report published on Monday 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 NYSE CXP traded down $0.01 during midday trading on Monday, hitting $19.85. The company’s stock had a trading volume of 2,771 shares, compared to its average volume of 694,533. Columbia Property Trust has a one year low of $18.08 and a one year high of $25.07. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The firm has a market cap of $2.26 billion, a P/E ratio of 17.39 and a beta of 0.97.

Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. Columbia Property Trust had a net margin of 1.07% and a return on equity of 0.11%. The company had revenue of $73.34 million for the quarter, compared to analyst estimates of $71.86 million. Equities analysts expect that Columbia Property Trust will post 1.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 4th. Investors of record on Monday, December 3rd were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 30th. This represents a $0.80 annualized dividend and a yield of 4.03%. Columbia Property Trust’s dividend payout ratio is currently 70.18%.

Large investors have recently modified their holdings of the stock. CWM LLC grew its stake in Columbia Property Trust by 108.2% during the third quarter. CWM LLC now owns 4,570 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 2,375 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Columbia Property Trust by 1,273.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 8,367 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 7,758 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in Columbia Property Trust during the third quarter valued at approximately $263,000. Koshinski Asset Management Inc. grew its stake in Columbia Property Trust by 30.4% during the third quarter. Koshinski Asset Management Inc. now owns 11,940 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 2,784 shares in the last quarter. Finally, Creative Planning grew its stake in Columbia Property Trust by 28.2% during the third quarter. Creative Planning now owns 14,323 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 3,153 shares in the last quarter. 74.42% of the stock is owned by institutional investors.

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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