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.
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.
ILLEGAL ACTIVITY WARNING: This piece was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://www.com-unik.info/2017/12/14/morgan-stanley-reaffirms-equal-weight-rating-for-columbia-property-trust-cxp.html.
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.
What are top analysts saying about Columbia Property Trust? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Columbia Property Trust and related companies.