Columbia Property Trust (NYSE:CXP) declared a quarterly dividend on Wednesday, May 15th, Wall Street Journal reports. Investors of record on Monday, June 3rd will be paid a dividend of 0.20 per share by the real estate investment trust on Tuesday, June 18th. This represents a $0.80 annualized dividend and a yield of 3.60%. The ex-dividend date is Friday, May 31st.
Columbia Property Trust has decreased its dividend payment by an average of 12.6% annually over the last three years. Columbia Property Trust has a payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbia Property Trust to earn $1.44 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 55.6%.
CXP traded up $0.07 during midday trading on Wednesday, hitting $22.20. 265,130 shares of the company’s stock traded hands, compared to its average volume of 627,719. The firm has a market cap of $2.59 billion, a PE ratio of 14.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.80 and a current ratio of 2.80. Columbia Property Trust has a one year low of $18.08 and a one year high of $25.07.
Separately, Zacks Investment Research lowered shares of Columbia Property Trust from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th.
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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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