Columbia Property Trust (CXP) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Columbia Property Trust (NYSE:CXP) from a hold rating to a sell rating in a report issued on Tuesday.

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 $22.56 on Tuesday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 14.93 and a beta of 1.04. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. Columbia Property Trust has a 12 month low of $19.55 and a 12 month high of $25.07.



Columbia Property Trust (NYSE:CXP) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Columbia Property Trust had a return on equity of 0.11% and a net margin of 1.07%. The business had revenue of $73.34 million during the quarter, compared to analyst estimates of $71.86 million. Research analysts predict that Columbia Property Trust will post 1.49 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of CXP. Schroder Investment Management Group grew its stake in shares of Columbia Property Trust by 436.0% in the second quarter. Schroder Investment Management Group now owns 2,902,849 shares of the real estate investment trust’s stock valued at $119,495,000 after buying an additional 2,361,226 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Columbia Property Trust by 656.8% in the third quarter. Cornerstone Wealth Management LLC now owns 512,157 shares of the real estate investment trust’s stock valued at $24,124,000 after buying an additional 444,479 shares in the last quarter. Timbercreek Investment Management Inc. acquired a new stake in shares of Columbia Property Trust in the third quarter valued at about $9,902,000. Dimensional Fund Advisors LP grew its stake in shares of Columbia Property Trust by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,876,076 shares of the real estate investment trust’s stock valued at $38,385,000 after buying an additional 78,038 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Columbia Property Trust by 41.9% in the third quarter. Bank of Montreal Can now owns 209,196 shares of the real estate investment trust’s stock valued at $4,945,000 after buying an additional 61,781 shares in the last quarter. Institutional investors and hedge funds own 75.63% 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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