Wolverine Asset Management LLC Makes New $628,000 Investment in City Office REIT, Inc. $CIO

Wolverine Asset Management LLC bought a new position in City Office REIT, Inc. (NYSE:CIO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 90,281 shares of the real estate investment trust’s stock, valued at approximately $628,000. Wolverine Asset Management LLC owned approximately 0.22% of City Office REIT at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Strs Ohio acquired a new position in City Office REIT in the 1st quarter worth approximately $40,000. Sonora Investment Management Group LLC lifted its holdings in shares of City Office REIT by 159.8% in the second quarter. Sonora Investment Management Group LLC now owns 328,120 shares of the real estate investment trust’s stock valued at $1,752,000 after purchasing an additional 201,820 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of City Office REIT in the second quarter valued at $86,000. Wedbush Securities Inc. boosted its position in shares of City Office REIT by 8.3% in the second quarter. Wedbush Securities Inc. now owns 39,000 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 3,000 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of City Office REIT during the second quarter valued at $381,000. Hedge funds and other institutional investors own 67.47% of the company’s stock.

City Office REIT Trading Down 0.1%

Shares of NYSE:CIO opened at $6.99 on Friday. The firm has a fifty day moving average of $6.93 and a two-hundred day moving average of $6.79. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.80. City Office REIT, Inc. has a 12-month low of $4.19 and a 12-month high of $7.01. The firm has a market capitalization of $282.14 million, a P/E ratio of -2.21 and a beta of 1.59.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of City Office REIT in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

About City Office REIT

City Office REIT, Inc (NYSE:CIO) is a publicly traded real estate investment trust focused on acquiring, managing and enhancing office and related properties in select Sun Belt and Southeastern U.S. markets. Established in 2017 through a spin-off from Shorenstein Properties, the company targets high-growth secondary markets offering favorable demographic trends, employment growth and constrained new office supply. Its strategy emphasizes well-located assets in metropolitan areas experiencing population inflows and corporate relocations.

The trust’s core business activities include property acquisition, leasing, asset management and value-add redevelopment initiatives.