Columbia Property Trust (NYSE:CXP) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Columbia Property Trust (NYSE:CXP) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01, MarketWatch Earnings reports. The company had revenue of $79.37 million for the quarter, compared to analyst estimates of $72.09 million. Columbia Property Trust had a negative net margin of 10.36% and a negative return on equity of 1.16%. Columbia Property Trust updated its FY 2020
After-Hours guidance to 1.46-1.51 EPS.

CXP traded up $0.22 during trading on Friday, reaching $11.96. 927,793 shares of the company’s stock were exchanged, compared to its average volume of 634,186. Columbia Property Trust has a one year low of $7.63 and a one year high of $22.71. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.37 billion, a PE ratio of -44.30 and a beta of 1.16. The firm has a fifty day moving average price of $12.88 and a two-hundred day moving average price of $15.33.

Several brokerages recently issued reports on CXP. Morgan Stanley decreased their price target on shares of Columbia Property Trust from $14.50 to $13.50 and set an “equal weight” rating on the stock in a report on Wednesday, June 24th. Zacks Investment Research lowered shares of Columbia Property Trust from a “buy” rating to a “hold” rating in a report on Friday, June 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Columbia Property Trust has an average rating of “Hold” and an average price target of $20.25.

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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Earnings History for Columbia Property Trust (NYSE:CXP)

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