Columbia Property Trust (CXP) Reports In-Line Q1 EPS; Revises Guidance

Columbia Property Trust (NYSE: CXP) reported Q1 EPS of $0.05, in-line with the analyst estimate of $0.05. Revises outlook.

• For the first quarter of 2020, net income per diluted share was $0.05 (page 9), Normalized FFO (NFFO)(1) per diluted share/unit was $0.39 (page 11), cash flows from operations were $16.1 million (page 29), Adjusted FFO (AFFO)(1) was $32.7 million (page 11), and same store net operating income (based on cash rents) increased 14.5% (page 12).
• Our first quarter results track favorably with our prior guidance for full year 2020. However, we are continuing to monitor the COVID-19 outbreak and its impact on our business, tenants, and industry. While our portfolio has been resilient so far, including 97% office rent collection and 95% total collections to date for April, the long-term impact of the pandemic on our tenants and the global economy remains uncertain and will depend on a number of factors. Therefore, we have included wider than usual ranges in our revised guidance

For earnings history and earnings-related data on Columbia Property Trust (CXP) click here.

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