Columbia Property Trust (NYSE:CXP) Sees Large Growth in Short Interest

Columbia Property Trust (NYSE:CXP) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 1,543,600 shares, an increase of 9.1% from the June 30th total of 1,415,300 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 447,900 shares, the short-interest ratio is presently 3.4 days.

Several research analysts have recently commented on CXP shares. Zacks Investment Research raised Columbia Property Trust from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, June 11th. BMO Capital Markets set a $23.00 price target on Columbia Property Trust and gave the stock a “buy” rating in a research report on Friday, July 26th.

Shares of CXP traded up $0.14 during trading hours on Friday, hitting $21.43. The company had a trading volume of 28,529 shares, compared to its average volume of 420,974. The company has a market capitalization of $2.49 billion, a PE ratio of 13.73 and a beta of 0.92. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.43. Columbia Property Trust has a one year low of $18.08 and a one year high of $25.07. The company’s fifty day moving average price is $21.19 and its two-hundred day moving average price is $21.98.

Columbia Property Trust (NYSE:CXP) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. Columbia Property Trust had a return on equity of 2.28% and a net margin of 21.11%. The firm had revenue of $72.73 million during the quarter, compared to analyst estimates of $70.73 million. During the same period in the previous year, the company posted $0.39 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts forecast that Columbia Property Trust will post 1.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 3.73%. Columbia Property Trust’s dividend payout ratio (DPR) is 51.28%.

Hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. purchased a new position in Columbia Property Trust during the 1st quarter worth $25,000. Prestige Wealth Management Group LLC purchased a new position in Columbia Property Trust during the 2nd quarter worth $26,000. Certified Advisory Corp grew its stake in Columbia Property Trust by 30.3% during the 2nd quarter. Certified Advisory Corp now owns 2,994 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 697 shares during the last quarter. Covenant Multifamily Offices LLC purchased a new position in Columbia Property Trust during the 1st quarter worth $85,000. Finally, Tower Research Capital LLC TRC grew its stake in Columbia Property Trust by 56.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,254 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,905 shares during the last quarter. Hedge funds and other institutional investors own 74.05% of the company’s stock.

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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