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Columbia Property Trust

NYSE:CXP
Snowflake Description

Second-rate dividend payer with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CXP
NYSE
$3B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Columbia Property Trust (NYSE: CXP) creates value through owning, operating and developing Class-A office buildings in high-barrier U.S. The last earnings update was 31 days ago. More info.


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CXP Share Price and Events
7 Day Returns
0%
NYSE:CXP
0.1%
US REITs
-1.4%
US Market
1 Year Returns
0.9%
NYSE:CXP
13.9%
US REITs
1.6%
US Market
CXP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Columbia Property Trust (CXP) 0% -2.8% -1.2% 0.9% 7.6% -15.7%
US REITs 0.1% 2.1% 3.4% 13.9% 11.4% 25.6%
US Market -1.4% -3.9% 0.2% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • CXP underperformed the REITs industry which returned 13.9% over the past year.
Price Volatility
CXP
Industry
5yr Volatility vs Market

CXP Value

 Is Columbia Property Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Columbia Property Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Columbia Property Trust.

NYSE:CXP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CXP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (54.46%))
0.837
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.837 * 5.96%)
7.72%

Discounted Cash Flow Calculation for NYSE:CXP using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Columbia Property Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Columbia Property Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:CXP DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.72%)
2019 120.37 Analyst x3 111.75
2020 124.47 Analyst x3 107.27
2021 116.08 Analyst x1 92.87
2022 147.92 Analyst x1 109.87
2023 151.16 Analyst x1 104.23
2024 161.18 Est @ 6.63% 103.18
2025 169.98 Est @ 5.46% 101.02
2026 177.87 Est @ 4.64% 98.13
2027 185.11 Est @ 4.07% 94.81
2028 191.90 Est @ 3.67% 91.24
Present value of next 10 years cash flows $1,014.38
NYSE:CXP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $191.90 × (1 + 2.73%) ÷ (7.72% – 2.73%)
$3,952.60
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,952.60 ÷ (1 + 7.72%)10
$1,879.41
NYSE:CXP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,014.38 + $1,879.41
$2,893.79
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,893.79 / 116.88
$24.76
NYSE:CXP Discount to Share Price
Calculation Result
Value per share (USD) From above. $24.76
Current discount Discount to share price of $22.15
= -1 x ($22.15 - $24.76) / $24.76
10.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Columbia Property Trust is available for.
Intrinsic value
11%
Share price is $22.15 vs Future cash flow value of $24.76
Current Discount Checks
For Columbia Property Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Columbia Property Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Columbia Property Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Columbia Property Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Columbia Property Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CXP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.10
NYSE:CXP Share Price ** NYSE (2019-05-24) in USD $22.15
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.61x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.44x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Columbia Property Trust.

NYSE:CXP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CXP Share Price ÷ EPS (both in USD)

= 22.15 ÷ 0.10

231.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Columbia Property Trust is overvalued based on earnings compared to the US REITs industry average.
  • Columbia Property Trust is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Columbia Property Trust's expected growth come at a high price?
Raw Data
NYSE:CXP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 231.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
16.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

NYSE:CXP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 231.73x ÷ 16.1%

14.39x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Columbia Property Trust is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Columbia Property Trust's assets?
Raw Data
NYSE:CXP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $23.26
NYSE:CXP Share Price * NYSE (2019-05-24) in USD $22.15
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NYSE:CXP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CXP Share Price ÷ Book Value per Share (both in USD)

= 22.15 ÷ 23.26

0.95x

* Primary Listing of Columbia Property Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Columbia Property Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Columbia Property Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Columbia Property Trust has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CXP Future Performance

 How is Columbia Property Trust expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Columbia Property Trust expected to grow at an attractive rate?
  • Columbia Property Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Columbia Property Trust's earnings growth is expected to exceed the United States of America market average.
  • Columbia Property Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CXP Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CXP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 16.1%
NYSE:CXP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 5.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CXP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CXP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 363 73 1
2022-12-31 347 63 1
2021-12-31 330 47 1
2020-12-31 291 42 3
2019-12-31 283 58 3
NYSE:CXP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 297 118 11
2018-12-31 296 98 9
2018-09-30 293 76 3
2018-06-30 280 45 98
2018-03-31 280 71 102
2017-12-31 289 62 176
2017-09-30 323 91 204
2017-06-30 376 140 140
2017-03-31 418 156 152
2016-12-31 462 193 84
2016-09-30 490 198 67
2016-06-30 514 204 50

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Columbia Property Trust's earnings are expected to grow by 16.1% yearly, however this is not considered high growth (20% yearly).
  • Columbia Property Trust's revenue is expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CXP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Columbia Property Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CXP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
NYSE:CXP Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.10
2018-12-31 0.08
2018-09-30 0.02
2018-06-30 0.82
2018-03-31 0.85
2017-12-31 1.45
2017-09-30 1.68
2017-06-30 1.14
2017-03-31 1.24
2016-12-31 0.68
2016-09-30 0.54
2016-06-30 0.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Columbia Property Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Columbia Property Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Columbia Property Trust has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CXP Past Performance

  How has Columbia Property Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Columbia Property Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Columbia Property Trust's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Columbia Property Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Columbia Property Trust's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Columbia Property Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Columbia Property Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CXP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 297.47 11.21 69.35
2018-12-31 295.74 9.20 68.64
2018-09-30 292.65 2.84 69.70
2018-06-30 280.17 97.93 68.40
2018-03-31 280.15 102.49 68.58
2017-12-31 288.60 175.70 68.82
2017-09-30 323.04 204.46 90.65
2017-06-30 375.95 139.83 90.37
2017-03-31 418.32 151.99 88.93
2016-12-31 462.14 83.97 90.65
2016-09-30 489.75 66.77 120.61
2016-06-30 514.21 50.04 119.94
2016-03-31 545.10 45.50 119.26
2015-12-31 566.07 44.43 116.81
2015-09-30 571.28 91.24 27.40
2015-06-30 570.54 96.64 28.44
2015-03-31 559.17 96.65 29.77
2014-12-31 540.80 94.52 107.52
2014-09-30 536.29 51.57 31.40
2014-06-30 531.81 40.08 31.45
2014-03-31 526.95 47.89 31.99
2013-12-31 526.58 25.82 61.87
2013-09-30 460.44 2.21 60.00
2013-06-30 472.65 -0.85 58.91
2013-03-31 481.72 -8.98 56.56
2012-12-31 494.27 21.44 24.61
2012-09-30 549.41 78.67 22.85
2012-06-30 561.85 66.16 22.17

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Columbia Property Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Columbia Property Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Columbia Property Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Columbia Property Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Columbia Property Trust has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CXP Health

 How is Columbia Property Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Columbia Property Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Columbia Property Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Columbia Property Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Columbia Property Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Columbia Property Trust Company Filings, last reported 1 month ago.

NYSE:CXP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,718.86 1,409.93 19.46
2018-12-31 2,741.02 1,323.85 19.46
2018-09-30 2,789.20 1,372.25 20.67
2018-06-30 2,804.01 1,361.69 16.32
2018-03-31 2,842.46 1,646.68 24.49
2017-12-31 2,531.94 1,784.94 10.47
2017-09-30 2,553.90 1,334.67 382.73
2017-06-30 2,504.84 1,460.41 506.54
2017-03-31 2,553.87 1,460.78 554.66
2016-12-31 2,502.77 1,535.32 216.09
2016-09-30 2,531.67 1,642.41 190.86
2016-06-30 2,529.64 1,781.82 23.80
2016-03-31 2,554.22 1,927.48 185.38
2015-12-31 2,614.19 1,848.27 32.65
2015-09-30 2,642.30 2,382.71 44.82
2015-06-30 2,674.63 2,237.90 33.74
2015-03-31 2,702.11 2,256.90 31.24
2014-12-31 2,733.48 1,800.03 149.79
2014-09-30 2,714.02 1,966.14 46.43
2014-06-30 2,725.19 1,764.05 49.33
2014-03-31 2,754.18 1,617.98 86.24
2013-12-31 2,787.82 1,620.07 99.86
2013-09-30 3,048.36 2,308.17 59.91
2013-06-30 3,008.59 2,256.28 61.67
2013-03-31 3,014.25 2,234.86 68.62
2012-12-31 3,163.98 2,254.71 53.66
2012-09-30 3,181.21 2,118.21 48.44
2012-06-30 3,222.90 2,108.44 60.62
  • Columbia Property Trust's level of debt (51.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (58.8% vs 51.9% today).
  • Debt is not well covered by operating cash flow (8.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Columbia Property Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Columbia Property Trust has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CXP Dividends

 What is Columbia Property Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.61%
Current annual income from Columbia Property Trust dividends. Estimated to be 3.76% next year.
If you bought $2,000 of Columbia Property Trust shares you are expected to receive $72 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Columbia Property Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Columbia Property Trust's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
Upcoming dividend payment

Purchase Columbia Property Trust before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CXP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CXP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.88 1.00
2022-12-31 0.84 1.00
2021-12-31 0.84 2.00
2020-12-31 0.84 4.00
2019-12-31 0.80 3.00
NYSE:CXP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-14 0.800 3.627
2019-02-11 0.800 3.575
2018-11-13 0.800 3.869
2018-08-14 0.800 3.495
2018-05-15 0.800 3.549
2018-02-08 0.800 3.814
2017-11-13 0.800 3.600
2017-08-07 0.800 3.739
2017-05-02 0.800 3.625
2017-02-09 0.800 3.546
2016-11-10 1.200 5.568
2016-08-08 1.200 5.321
2016-05-03 1.200 5.431
2016-02-11 1.200 5.648
2015-11-04 1.200 5.159
2015-08-06 1.200 5.121
2015-05-06 1.200 4.713
2015-04-30 1.200 4.516
2014-11-03 1.200 4.667
2014-10-30 1.200 4.727
2014-05-09 1.200 4.673
2014-02-20 1.200 4.448

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Columbia Property Trust has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Columbia Property Trust has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Columbia Property Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (228.8x coverage).
X
Income/ dividend checks
We assess Columbia Property Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Columbia Property Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Columbia Property Trust has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CXP Management

 What is the CEO of Columbia Property Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
E. Mills
COMPENSATION $4,850,916
AGE 57
TENURE AS CEO 6.3 years
CEO Bio

Mr. E. Nelson Mills, CPA, has been the President of Columbia Property Trust Operating Partnership, L.P. since July 21, 2010. Mr. Mills has been the Chief Executive Officer and President of Columbia Property Trust, Inc. since February 2013 and July 21, 2010 respectively. He is responsible for Columbia Property Trust’s overall strategy, capital transactions, operations and performance of its portfolio of investments. Previously, Mr. Mills served as an Independent Director since April 18, 2007 and led the company in the establishment of an internal management team, a substantial repositioning of the portfolio, enhanced and expanded access to more efficient capital resources and the development of a comprehensive strategic plan and growth strategy for the future. Mr. Mills has 30 years of experience in the real estate investment and financial services industries. Prior to joining Columbia Property Trust in 2010, he served for five years as the President and Chief Operating Officer at Williams Realty Advisors, LLC. In this role, Mr. Mills was responsible for the firm’s investment and financial strategy and oversaw the design, formation, investment and operations of several substantial funds, across multiple asset classes. Previously, he served as the Chief Financial Officer at Lend Lease Real Estate Investments (US), Inc. From February 2006 to February 2013, Mr. Mills served as a director of Wells Timberland REIT, Inc. (now CatchMark Timber Trust, Inc.), a real estate investment trust, investing in timberlands. He has been an Executive Director of Columbia Property Trust, Inc. since April 2007. Mr. Mills began his career in the financial industry as a Partner at KPMG LLP, specializing in tax and transaction advisory services for the real estate industry.

CEO Compensation
  • E.'s compensation has been consistent with company performance over the past year, both up more than 20%.
  • E.'s remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Columbia Property Trust management team in years:

6
Average Tenure
53
Average Age
  • The average tenure for the Columbia Property Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

E. Mills

TITLE
President
COMPENSATION
$5M
AGE
57
TENURE
6.3 yrs

Jim Fleming

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
59
TENURE
5.8 yrs

Wendy Gill

TITLE
Senior VP of Corporate Operations & Chief Accounting Officer
COMPENSATION
$1M
AGE
43
TENURE
6.3 yrs

Kevin Hoover

TITLE
Senior Vice President of Portfolio Management & Transactions
COMPENSATION
$1M
AGE
53

Dave Dowdney

TITLE
Senior VP & Head of Leasing
COMPENSATION
$1M
AGE
43
TENURE
4.9 yrs

Matt Stover

TITLE
Director of Finance & Investor Relations
TENURE
3.3 yrs

Debbie Newmark

TITLE
Director of Legal Compliance & Transactions and Corporate Secretary

Rachel Williams

TITLE
Vice President of Marketing & Communications

Angela Hutchinson

TITLE
Director of Human Resources
TENURE
6.3 yrs

Amy Tabb

TITLE
Senior Vice President of Business Development
Board of Directors Tenure

Average tenure and age of the Columbia Property Trust board of directors in years:

5.8
Average Tenure
66
Average Age
  • The tenure for the Columbia Property Trust board of directors is about average.
Board of Directors

John Dixon

TITLE
Chairman of the Board
COMPENSATION
$192K
AGE
75
TENURE
6.4 yrs

E. Mills

TITLE
President
COMPENSATION
$5M
AGE
57
TENURE
12.1 yrs

Murray McCabe

TITLE
Independent Director
COMPENSATION
$159K
AGE
50
TENURE
5.8 yrs

Tom Wattles

TITLE
Independent Director
COMPENSATION
$161K
AGE
66
TENURE
5.8 yrs

Mike Robb

TITLE
Independent Director
COMPENSATION
$160K
AGE
70
TENURE
4.3 yrs

Dave Henry

TITLE
Independent Director
COMPENSATION
$159K
AGE
69
TENURE
3.3 yrs

George Sands

TITLE
Independent Director
COMPENSATION
$156K
AGE
73
TENURE
9.1 yrs

Carmen Bowser

TITLE
Independent Director
COMPENSATION
$155K
AGE
63
TENURE
3.3 yrs

Connie Moore

TITLE
Independent Director
COMPENSATION
$156K
AGE
62
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Columbia Property Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Columbia Property Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CXP News

Simply Wall St News

Should You Worry About Columbia Property Trust, Inc.'s (NYSE:CXP) CEO Pay Cheque?

The graphic below shows how CEO compensation at Columbia Property Trust has changed from year to year. … NYSE:CXP CEO Compensation, May 21st 2019 Is Columbia Property Trust, Inc. … With a total shareholder return of 23% over three years, Columbia Property Trust, Inc.

Simply Wall St -

Columbia Property Trust, Inc. (NYSE:CXP) Delivered A Weaker ROE Than Its Industry

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.0042 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Does Columbia Property Trust, Inc. (NYSE:CXP) Affect Your Portfolio Volatility?

The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Is Now The Time To Look At Buying Columbia Property Trust, Inc. (NYSE:CXP)?

Columbia Property Trust, Inc. … As a well-established company, which tends to be well-covered by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s take a look at Columbia Property Trust’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

Investors Who Bought Columbia Property Trust (NYSE:CXP) Shares Five Years Ago Are Now Down 18%

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … Looking back five years, both Columbia Property Trust's share price and EPS declined; the latter at a rate of 17% per year.

Simply Wall St -

Do Directors Own Columbia Property Trust, Inc. (NYSE:CXP) Shares?

Every investor in Columbia Property Trust, Inc. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Columbia Property Trust has a market capitalization of US$2.7b, so we would expect some institutional investors to have noticed the stock.

Simply Wall St -

Investing In Columbia Property Trust, Inc. (NYSE:CXP): What You Need To Know

Columbia Property Trust, Inc. … real estate investment trust (REIT) based in Atlanta, United States. … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation.

Simply Wall St -

What Does Columbia Property Trust, Inc.'s (NYSE:CXP) Share Price Indicate?

Columbia Property Trust, Inc. … A question to answer is whether Columbia Property Trust's current trading price of $19.34 reflective of the actual value of the? … Let’s take a look at Columbia Property Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Should You Take Comfort From Insider Transactions At Columbia Property Trust, Inc. (NYSE:CXP)?

So we'll take a look at whether insiders have been buying or selling shares in Columbia Property Trust, Inc. … Columbia Property Trust Insider Transactions Over The Last Year. … Independent Director Richard Carpenter made the biggest insider purchase in the last 12 months.

Simply Wall St -

A Closer Look At Columbia Property Trust Inc's (NYSE:CXP) Uninspiring ROE

Over the last twelve months Columbia Property Trust has recorded a ROE of 0.1%. … That means that for every $1 worth of shareholders' equity, it generated $0.0011 in profit. … Check out our latest analysis for Columbia Property Trust?

Simply Wall St -

CXP Company Info

Description

Columbia Property Trust (NYSE: CXP) creates value through owning, operating and developing Class-A office buildings in high-barrier U.S. office markets, primarily New York, San Francisco, and Washington D.C. Columbia is deeply experienced in transactions, asset management and repositioning, leasing, and property management. It employs these competencies to grow value across its high-quality, well-leased portfolio of 18 properties that contain over eight million rentable square feet, as well as one property under development. Columbia has investment-grade ratings from both Moody’s and Standard & Poor’s.

Details
Name: Columbia Property Trust, Inc.
CXP
Exchange: NYSE
Founded: 2003
$2,588,884,579
116,879,665
Website: http://www.columbia.reit
Address: Columbia Property Trust, Inc.
1170 Peachtree Street NE,
Suite 600,
Atlanta,
Georgia, 30309,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CXP Common Stock New York Stock Exchange US USD 10. Oct 2013
Number of employees
Current staff
Staff numbers
95
Columbia Property Trust employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 00:38
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.