Columbia Property Trust (NYSE:CXP) – Investment analysts at SunTrust Banks issued their Q1 2020 EPS estimates for Columbia Property Trust in a research report issued to clients and investors on Wednesday, May 15th. SunTrust Banks analyst M. Lewis anticipates that the real estate investment trust will earn $0.35 per share for the quarter. SunTrust Banks also issued estimates for Columbia Property Trust’s Q2 2020 earnings at $0.36 EPS, Q3 2020 earnings at $0.37 EPS and Q4 2020 earnings at $0.38 EPS.
Separately, Zacks Investment Research cut Columbia Property Trust from a “hold” rating to a “sell” rating in a report on Thursday, March 14th.
Columbia Property Trust (NYSE:CXP) last released its earnings results on Thursday, April 25th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). Columbia Property Trust had a return on equity of 0.42% and a net margin of 3.84%. The business had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $72.75 million. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Columbia Property Trust by 3.0% in the 4th quarter. BlackRock Inc. now owns 9,224,417 shares of the real estate investment trust’s stock worth $178,492,000 after purchasing an additional 271,712 shares during the period. Deutsche Bank AG boosted its holdings in shares of Columbia Property Trust by 15.8% in the 4th quarter. Deutsche Bank AG now owns 3,538,776 shares of the real estate investment trust’s stock worth $68,472,000 after purchasing an additional 481,565 shares during the period. Jennison Associates LLC boosted its holdings in shares of Columbia Property Trust by 8.0% in the 4th quarter. Jennison Associates LLC now owns 3,093,290 shares of the real estate investment trust’s stock worth $59,855,000 after purchasing an additional 230,291 shares during the period. Centersquare Investment Management LLC purchased a new position in shares of Columbia Property Trust in the 1st quarter worth approximately $61,100,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Columbia Property Trust by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,907,926 shares of the real estate investment trust’s stock worth $42,948,000 after purchasing an additional 12,418 shares during the period. Institutional investors and hedge funds own 74.65% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, May 31st. Columbia Property Trust’s dividend payout ratio is presently 51.28%.
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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