City Office REIT Inc (NYSE:CIO) has been assigned an average rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $11.80.
Several research analysts have issued reports on the stock. Compass Point downgraded shares of City Office REIT from a “buy” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research report on Thursday, March 26th. B. Riley raised their price objective on shares of City Office REIT from $12.00 to $13.00 in a research report on Wednesday, June 10th. TheStreet downgraded shares of City Office REIT from a “c-” rating to a “d+” rating in a research report on Wednesday, April 8th. Zacks Investment Research raised shares of City Office REIT from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday, May 27th. Finally, Royal Bank of Canada reduced their target price on shares of City Office REIT from $15.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd.
Shares of NYSE CIO traded down $0.01 during mid-day trading on Friday, reaching $10.01. The company had a trading volume of 198,895 shares, compared to its average volume of 546,300. The company has a current ratio of 7.23, a quick ratio of 7.23 and a debt-to-equity ratio of 1.70. The firm has a 50 day simple moving average of $9.63 and a two-hundred day simple moving average of $10.83. The stock has a market cap of $476.18 million, a P/E ratio of -111.21 and a beta of 1.33. City Office REIT has a 52-week low of $6.50 and a 52-week high of $14.50.
City Office REIT (NYSE:CIO) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.27). The company had revenue of $40.12 million during the quarter, compared to analysts’ expectations of $39.35 million. City Office REIT had a net margin of 2.33% and a return on equity of 1.01%. On average, equities analysts expect that City Office REIT will post 1.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Thursday, July 9th. City Office REIT’s dividend payout ratio (DPR) is 51.28%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC purchased a new position in City Office REIT during the 1st quarter valued at about $31,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of City Office REIT by 48.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,053 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,000 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of City Office REIT during the first quarter worth about $82,000. Keebeck Alpha LP purchased a new stake in shares of City Office REIT during the first quarter worth about $86,000. Finally, Hancock Whitney Corp grew its holdings in shares of City Office REIT by 20.8% during the first quarter. Hancock Whitney Corp now owns 12,762 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 2,201 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.
City Office REIT Company Profile
City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2018, CIO owned office complexes comprising 5.7 million square feet of net rentable area (NRA).
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