Columbia Property Trust (NYSE:CXP) Updates FY20 Earnings Guidance

Columbia Property Trust (NYSE:CXP) updated its FY20 earnings guidance on Thursday. The company provided earnings per share guidance of $1.46-1.51 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.49. Columbia Property Trust also updated its FY 2020
After-Hours guidance to 1.46-1.51 EPS.

A number of equities research analysts have recently weighed in on the stock. Evercore ISI reissued a buy rating and set a $24.00 price objective on shares of Columbia Property Trust in a report on Sunday. Zacks Investment Research lowered shares of Columbia Property Trust from a buy rating to a hold rating in a report on Wednesday. Morgan Stanley lowered their price target on shares of Columbia Property Trust from $22.50 to $22.00 and set an equal weight rating on the stock in a report on Friday, December 13th. Goldman Sachs Group assumed coverage on shares of Columbia Property Trust in a report on Friday, November 8th. They issued a neutral rating and a $22.00 price target on the stock. Finally, SunTrust Banks raised shares of Columbia Property Trust from a hold rating to a buy rating and set a $23.00 price target on the stock in a report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Columbia Property Trust has a consensus rating of Hold and a consensus price target of $22.83.

NYSE:CXP traded down $0.08 during mid-day trading on Friday, hitting $22.39. The company’s stock had a trading volume of 488,417 shares. Columbia Property Trust has a 1 year low of $19.64 and a 1 year high of $23.21. The business’s fifty day moving average is $21.42 and its two-hundred day moving average is $21.01.

Columbia Property Trust (NYSE:CXP) last posted its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.16). The business had revenue of $68.73 million for the quarter, compared to the consensus estimate of $67.36 million. During the same quarter last year, the firm posted $0.40 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. As a group, equities research analysts predict that Columbia Property Trust will post 1.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Monday, March 2nd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, February 28th.

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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Earnings History and Estimates for Columbia Property Trust (NYSE:CXP)

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