UPDATE: Morgan Stanley Downgrades Columbia Property Trust to Equal-Weight, Removes PT on Valuation

In a report published Thursday, Morgan Stanley analyst Vance H. Edelson downgraded the rating on

from Overweight to Equal-Weight, and removed the $30.00 price target. In the report, Morgan Stanley noted, “Following the stock's recent appreciation and apparent failure to be added to the MSCI REIT index, we are removing CXP from Morgan Stanley's Best Ideas List and downgrading to Equal-weight. Remaining catalysts are likely to have less impact with valuation now more in line with peers.” Columbia Property Trust closed on Wednesday at $28.86.