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

Columbia Property Trust (NYSE:CXP) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,543,600 shares, a growth of 9.1% from the June 30th total of 1,415,300 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 447,900 shares, the days-to-cover ratio is currently 3.4 days.

CXP stock traded down $0.18 during mid-day trading on Wednesday, reaching $21.09. The company had a trading volume of 10,588 shares, compared to its average volume of 555,167. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.46 billion, a PE ratio of 13.47 and a beta of 0.92. Columbia Property Trust has a one year low of $18.08 and a one year high of $25.07. The business has a 50-day moving average price of $21.19.

Columbia Property Trust (NYSE:CXP) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $72.73 million for the quarter, compared to analysts’ expectations of $70.73 million. Columbia Property Trust had a return on equity of 2.28% and a net margin of 21.11%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. As a group, research analysts predict that Columbia Property Trust will post 1.42 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Putnam Investments LLC increased its position in Columbia Property Trust by 44.4% in the 2nd quarter. Putnam Investments LLC now owns 195,649 shares of the real estate investment trust’s stock worth $4,058,000 after buying an additional 60,124 shares during the period. Cohen & Steers Inc. increased its position in Columbia Property Trust by 70.1% in the 2nd quarter. Cohen & Steers Inc. now owns 8,205,436 shares of the real estate investment trust’s stock worth $170,181,000 after buying an additional 3,382,212 shares during the period. Tower Research Capital LLC TRC increased its position in Columbia Property Trust by 56.9% in 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 period. Nomura Asset Management Co. Ltd. increased its position in Columbia Property Trust by 2.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 83,574 shares of the real estate investment trust’s stock worth $1,733,000 after buying an additional 1,600 shares during the period. Finally, ETRADE Capital Management LLC bought a new position in Columbia Property Trust in the 2nd quarter worth approximately $205,000. Institutional investors own 74.05% of the company’s stock.

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

About Columbia Property Trust

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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