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.
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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