Press coverage about Columbia Property Trust (NYSE:CXP) has been trending somewhat positive recently, Accern reports. The research firm rates the sentiment of media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Columbia Property Trust earned a media sentiment score of 0.22 on Accern’s scale. Accern also gave news coverage about the real estate investment trust an impact score of 46.078899867068 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Columbia Property Trust (NYSE CXP) opened at 21.30 on Wednesday. Columbia Property Trust has a 52 week low of $20.27 and a 52 week high of $23.48. The stock has a market capitalization of $2.58 billion, a P/E ratio of 18.68 and a beta of 1.17. The stock’s 50 day moving average price is $21.18 and its 200-day moving average price is $21.87.
Columbia Property Trust (NYSE:CXP) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The business had revenue of $74.86 million for the quarter, compared to analyst estimates of $79.51 million. Columbia Property Trust had a return on equity of 5.55% and a net margin of 37.27%. The business’s quarterly revenue was down 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Equities research analysts expect that Columbia Property Trust will post $0.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.76%. Columbia Property Trust’s dividend payout ratio is presently 70.18%.
Columbia Property Trust declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 8th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
CXP has been the subject of a number of recent research reports. BidaskClub raised Columbia Property Trust from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Columbia Property Trust in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.80.
In other Columbia Property Trust news, Director Thomas G. Wattles acquired 4,700 shares of Columbia Property Trust stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $21.27 per share, for a total transaction of $99,969.00. Following the completion of the transaction, the director now owns 21,166 shares in the company, valued at approximately $450,200.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% 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.
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