City Office REIT (NYSE:CIO) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of City Office REIT (NYSE:CIO – Get Rating) in a research note published on Thursday morning. The firm issued a hold rating on the real estate investment trust’s stock.

Separately, B. Riley dropped their price target on City Office REIT from $14.00 to $12.00 and set a buy rating for the company in a research report on Monday, February 27th.

City Office REIT Trading Down 7.6 %

Shares of City Office REIT stock opened at $6.48 on Thursday. The firm has a market cap of $258.75 million, a price-to-earnings ratio of 38.12 and a beta of 1.62. The business has a 50-day moving average price of $8.89 and a 200-day moving average price of $9.54. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.00. City Office REIT has a twelve month low of $6.42 and a twelve month high of $18.35.

City Office REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, April 11th will be given a $0.20 dividend. The ex-dividend date is Monday, April 10th. This represents a $0.80 annualized dividend and a yield of 12.35%. City Office REIT’s dividend payout ratio is currently 470.62%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in City Office REIT in the fourth quarter worth about $26,000. Point72 Middle East FZE bought a new stake in City Office REIT in the fourth quarter worth about $28,000. Lazard Asset Management LLC bought a new stake in City Office REIT in the first quarter worth about $39,000. Tower Research Capital LLC TRC lifted its stake in City Office REIT by 736.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,247 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 3,739 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its stake in City Office REIT by 25.3% in the second quarter. Point72 Hong Kong Ltd now owns 4,736 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 957 shares during the last quarter. Hedge funds and other institutional investors own 76.80% of the company’s stock.

About City Office REIT

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City Office REIT, Inc is a real estate investment trust. It focuses on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. The company was founded on November 26, 2013 and is headquartered in Vancouver, Canada.