Columbia Property Trust (CXP) Rating Reiterated by Morgan Stanley

Columbia Property Trust (NYSE:CXP)‘s stock had its “equal weight” rating restated by equities research analysts at Morgan Stanley in a research report issued on Thursday. They presently have a $22.00 price target on the real estate investment trust’s stock. Morgan Stanley’s price target points to a potential downside of 4.39% from the stock’s previous close.

A number of other research analysts have also weighed in on CXP. Zacks Investment Research raised shares of Columbia Property Trust from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday, November 22nd. JMP Securities raised shares of Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 target price for the company in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Columbia Property Trust presently has a consensus rating of “Buy” and an average target price of $24.13.

Columbia Property Trust (NYSE CXP) opened at $23.01 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.59 and a current ratio of 3.59. Columbia Property Trust has a fifty-two week low of $20.37 and a fifty-two week high of $23.48. The company has a market cap of $2,708.76, a price-to-earnings ratio of 19.00 and a beta of 1.17.

Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.02 by $0.26. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.10%. The business had revenue of $60.36 million for the quarter, compared to analysts’ expectations of $75.43 million. During the same period in the previous year, the company posted $0.37 EPS. sell-side analysts predict that Columbia Property Trust will post 1.14 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Columbia Property Trust by 1.6% in the second quarter. Vanguard Group Inc. now owns 19,201,074 shares of the real estate investment trust’s stock valued at $429,720,000 after acquiring an additional 301,869 shares during the period. BlackRock Inc. increased its stake in Columbia Property Trust by 2.6% in the second quarter. BlackRock Inc. now owns 8,281,850 shares of the real estate investment trust’s stock valued at $185,346,000 after acquiring an additional 208,882 shares during the period. Goldman Sachs Group Inc. increased its stake in Columbia Property Trust by 13.6% in the second quarter. Goldman Sachs Group Inc. now owns 6,867,465 shares of the real estate investment trust’s stock valued at $153,694,000 after acquiring an additional 822,943 shares during the period. Bank of New York Mellon Corp increased its stake in Columbia Property Trust by 18.3% in the third quarter. Bank of New York Mellon Corp now owns 4,110,187 shares of the real estate investment trust’s stock valued at $89,479,000 after acquiring an additional 634,874 shares during the period. Finally, Prudential Financial Inc. increased its stake in Columbia Property Trust by 38.6% in the second quarter. Prudential Financial Inc. now owns 1,863,289 shares of the real estate investment trust’s stock valued at $41,700,000 after acquiring an additional 518,443 shares during the period. 67.39% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Columbia Property Trust (NYSE:CXP)

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