JMP Securities Upgrades Columbia Property Trust, Inc. (CXP) to “Outperform”

Columbia Property Trust, Inc. (NYSE:CXP) was upgraded by equities research analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued on Monday. The firm currently has a $26.00 target price on the real estate investment trust’s stock. JMP Securities’ price objective points to a potential upside of 17.75% from the stock’s current price.

Separately, BidaskClub raised shares of Columbia Property Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $24.17.

Shares of Columbia Property Trust (NYSE CXP) opened at 22.08 on Monday. The stock has a 50 day moving average of $21.40 and a 200 day moving average of $21.76. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 19.37 and a beta of 1.17. Columbia Property Trust has a 52-week low of $20.27 and a 52-week high of $23.48.

Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.26. The company had revenue of $60.36 million for the quarter, compared to the consensus estimate of $75.43 million. Columbia Property Trust had a net margin of 63.37% and a return on equity of 8.10%. During the same quarter last year, the firm posted $0.37 earnings per share. On average, equities research analysts expect that Columbia Property Trust will post $0.07 EPS for the current year.

Columbia Property Trust announced that its board has approved a share repurchase program on Tuesday, August 8th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

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In other news, Director Thomas G. Wattles bought 4,700 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $21.27 per share, for a total transaction of $99,969.00. Following the purchase, the director now owns 21,166 shares in the company, valued at $450,200.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in Columbia Property Trust by 0.8% during the 2nd quarter. SG Americas Securities LLC now owns 6,839 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 51 shares during the period. Thrivent Financial For Lutherans raised its stake in Columbia Property Trust by 1.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,200 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 200 shares during the period. Aperio Group LLC raised its stake in Columbia Property Trust by 1.7% during the 2nd quarter. Aperio Group LLC now owns 14,666 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 245 shares during the period. Sigma Planning Corp raised its stake in Columbia Property Trust by 2.2% during the 2nd quarter. Sigma Planning Corp now owns 13,180 shares of the real estate investment trust’s stock worth $295,000 after acquiring an additional 281 shares during the period. Finally, First Allied Advisory Services Inc. raised its stake in Columbia Property Trust by 3.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 9,311 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 296 shares during the period. Institutional investors own 65.05% of the company’s stock.

About Columbia Property Trust

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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