Evercore ISI Sticks to Its Hold Rating for Columbia Property (CXP)
In a report issued on April 30, Sheila McGrath from Evercore ISI maintained a Hold rating on Columbia Property (CXP), with a price target of $18.00. The company’s shares closed last Friday at $18.01, close to its 52-week high of $18.99.
According to TipRanks.com, McGrath is a 3-star analyst with an average return of 9.5% and a 54.3% success rate. McGrath covers the Financial sector, focusing on stocks such as Brookfield Property Partners, Four Corners Property, and Alexander & Baldwin.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Columbia Property with a $18.33 average price target.
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Based on Columbia Property’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $62.86 million and net profit of $98.97 million. In comparison, last year the company earned revenue of $68.73 million and had a GAAP net loss of $21.78 million.
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Columbia Property Trust, Inc. operates as a real estate investment trust. It own, operates and develops class-A office buildings in U.S. office markets, primarily in New York, San Francisco, Atlanta and Washington, D.C. The company was founded on July 3, 2003 and is headquartered in Atlanta, GA.