Wednesday, June 29, 2022

Columbia Property Trust Inc. (CXP) is Waving the Bull Flag

Many stocks have been testing new highs in 2020, and one of the most notable is Columbia Property Trust Inc. (CXP). Currently, CXP is trading at $15.92 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $17.90.

To add more color to this target, the company’s high over the last year is $22.72 and the low is $7.63. Over the last 52 weeks, CXP is down -29.93% while the S&P 500 is up 1.21%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CXP reported a profit of $-2.3 million. Columbia Property Trust Inc. also saw revenues decrease to $76.25 million. In addition, CXP has free cash flow of -$7.44 million as of 03-2020 The company’s EBITDA came in at $21.36 million which compares well with its peers.

CXP booked profit margins of 4.00%, its Return on Equity (ROE) is 0.40%, and its Return on Assets is 0.30%. All told, it is clear that, CXP needs to be on your watchlist.

About Columbia Property Trust Inc.

If readers are unfamiliar, Columbia Property Trust (NYSE: CXP) creates value through owning, operating and developing Class-A office buildings in New York, San Francisco, Washington D.C., and Boston. The Columbia team is deeply experienced in transactions, asset management and repositioning, leasing, development, and property management. It employs these competencies to grow value across its high-quality, well-leased portfolio of 17 properties that contain approximately seven million rentable square feet, as well as two properties under development, and also has approximately eight million square feet under management for private investors and third parties.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CXP has a short ratio of 2.15 and outstanding shares of 114.47M.

Company Outlook

CXP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.54 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.10. Investors should also keep an eye on sector updates as CXP has historically followed its peers on positive news.

All told, Columbia Property Trust Inc. CXP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CXP represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Columbia Property Trust Inc. CXP is now commanding a market cap of 1.82B and a float of 113.34M. CXP is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CXP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CXP, either long or short, and we have not been compensated for this article.

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