SunTrust Banks Comments on Columbia Property Trust’s FY2018 Earnings (CXP)

Columbia Property Trust (NYSE:CXP) – SunTrust Banks lifted their FY2018 earnings per share (EPS) estimates for shares of Columbia Property Trust in a report issued on Monday, October 29th. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings per share of $1.53 for the year, up from their previous estimate of $1.48. SunTrust Banks also issued estimates for Columbia Property Trust’s Q4 2018 earnings at $0.37 EPS, Q1 2019 earnings at $0.33 EPS, FY2021 earnings at $1.67 EPS and FY2022 earnings at $1.72 EPS.

Separately, Zacks Investment Research cut Columbia Property Trust from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.20.



CXP stock opened at $22.45 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.92 and a current ratio of 1.92. Columbia Property Trust has a 1-year low of $19.55 and a 1-year high of $25.07. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 19.86 and a beta of 1.04.

Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $71.86 million.

Several institutional investors and hedge funds have recently modified their holdings of CXP. Dimensional Fund Advisors LP raised 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 during the period. Xact Kapitalforvaltning AB raised its stake in shares of Columbia Property Trust by 55.4% in the first quarter. Xact Kapitalforvaltning AB now owns 17,118 shares of the real estate investment trust’s stock valued at $350,000 after buying an additional 6,100 shares during the period. Schroder Investment Management Group raised 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 during the period. Northern Trust Corp raised its stake in shares of Columbia Property Trust by 1.2% in the second quarter. Northern Trust Corp now owns 1,389,544 shares of the real estate investment trust’s stock valued at $31,557,000 after buying an additional 16,474 shares during the period. Finally, Timbercreek Investment Management Inc. bought a new stake in shares of Columbia Property Trust in the third quarter valued at $9,902,000. Hedge funds and other institutional investors own 75.63% 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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Earnings History and Estimates for Columbia Property Trust (NYSE:CXP)

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