Real estate investment trust Columbia Property (CXP) has signed an agreement to be acquired by funds managed by Pacific Investment Management Company (PIMCO) for $19.30 per share, or $3.9 billion
Real estate investment trust Columbia Property (CXP) has signed an agreement to be acquired by funds managed by Pacific Investment Management Company (PIMCO) for $19.30 per share, or $3.9 billion
In a report released today, Sheila McGrath from Evercore ISI maintained a Hold rating on Columbia Property (CXP – Research Report), with a price target of $18.00. The company’s shares closed last Tuesday at $15.61.
According to TipRanks.com, McGrath is a 3-star analyst with an average return of 9.7% and a 67.9% success rate. McGrath covers the Financial sector, focusing on stocks such as Essential Properties Realty, Four Corners Property, and Community Healthcare.
The word on The Street in general, suggests a Hold analyst consensus rating for Columbia Property with a $19.33 average price target.
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Based on Columbia Property’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $63.42 million and GAAP net loss of $5.88 million. In comparison, last year the company earned revenue of $79.37 million and had a net profit of $5.09 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.
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