Morgan Stanley Reaffirms “Equal Weight” Rating for Columbia Property Trust (CXP)

Columbia Property Trust (NYSE:CXP)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a note issued to investors on Thursday. They presently have a $22.00 price target on the real estate investment trust’s stock. Morgan Stanley’s target price suggests a potential downside of 2.14% from the stock’s previous close.

Several other research firms have also commented on CXP. JMP Securities raised shares of Columbia Property Trust from a “market perform” rating to an “outperform” rating and set a $26.00 price objective for the company in a research note on Monday, October 30th. Zacks Investment Research raised shares of Columbia Property Trust from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, November 22nd. One investment 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’s stock. The stock currently has an average rating of “Buy” and an average price target of $24.13.

Columbia Property Trust (CXP) traded up $0.11 during mid-day trading on Thursday, hitting $22.48. 885,900 shares of the company were exchanged, compared to its average volume of 600,103. Columbia Property Trust has a 1 year low of $20.37 and a 1 year high of $23.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.59 and a current ratio of 3.59. The stock has a market capitalization of $2,680.01, a price-to-earnings ratio of 18.80 and a beta of 1.17.

Columbia Property Trust (NYSE:CXP) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.26. The firm had revenue of $60.36 million during the quarter, compared to analyst estimates 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 period last year, the firm posted $0.37 earnings per share. research analysts anticipate that Columbia Property Trust will post 1.14 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CXP. TLP Group LLC purchased a new stake in shares of Columbia Property Trust during the second quarter valued at $150,000. SG Americas Securities LLC boosted its stake in shares of Columbia Property Trust by 0.8% during the second quarter. SG Americas Securities LLC now owns 6,839 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 51 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Columbia Property Trust by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,249 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 701 shares during the period. First Allied Advisory Services Inc. boosted its stake in shares of Columbia Property Trust by 3.3% during the second quarter. First Allied Advisory Services Inc. now owns 9,311 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 296 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Columbia Property Trust during the second quarter valued at $213,000. 67.39% of the stock is owned by institutional investors.

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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.

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