Freestone Capital Holdings LLC Maintains Position in City Office REIT, Inc. (CIO)

Freestone Capital Holdings LLC continued to hold its position in City Office REIT, Inc. (NYSE:CIO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,000 shares of the real estate investment trust’s stock at the close of the 2nd quarter. Freestone Capital Holdings LLC’s holdings in City Office REIT were worth $127,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. LSV Asset Management increased its stake in shares of City Office REIT by 25.8% during the second quarter. LSV Asset Management now owns 843,506 shares of the real estate investment trust’s stock worth $10,712,000 after buying an additional 172,841 shares during the period. Principal Financial Group Inc. increased its stake in shares of City Office REIT by 6.5% during the second quarter. Principal Financial Group Inc. now owns 1,052,036 shares of the real estate investment trust’s stock worth $13,361,000 after buying an additional 64,100 shares during the period. Bridge City Capital LLC purchased a new stake in shares of City Office REIT during the second quarter worth approximately $766,000. Bank of New York Mellon Corp increased its stake in shares of City Office REIT by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 150,854 shares of the real estate investment trust’s stock worth $1,916,000 after buying an additional 30,722 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of City Office REIT by 4.5% during the second quarter. Advisors Asset Management Inc. now owns 41,452 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 1,789 shares during the period. Hedge funds and other institutional investors own 52.98% of the company’s stock.

In related news, CEO James Thomas Farrar purchased 6,000 shares of City Office REIT stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average cost of $12.52 per share, with a total value of $75,120.00. Following the transaction, the chief executive officer now owns 184,789 shares of the company’s stock, valued at approximately $2,313,558.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.20% of the company’s stock.

A number of analysts recently weighed in on CIO shares. Deutsche Bank AG upped their target price on shares of City Office REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. BidaskClub lowered shares of City Office REIT from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. FBR & Co started coverage on shares of City Office REIT in a research note on Tuesday, July 11th. They set an “outperform” rating and a $14.50 target price on the stock. Zacks Investment Research lowered shares of City Office REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, TheStreet upgraded shares of City Office REIT from a “d” rating to a “c” rating in a research note on Thursday, May 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. City Office REIT has an average rating of “Hold” and a consensus price target of $14.63.

Shares of City Office REIT, Inc. (NYSE CIO) opened at 12.84 on Monday. City Office REIT, Inc. has a 1-year low of $11.43 and a 1-year high of $13.55. The stock’s market capitalization is $388.56 million. The company’s 50 day moving average is $12.60 and its 200-day moving average is $12.47.

City Office REIT (NYSE:CIO) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $25.16 million for the quarter, compared to analyst estimates of $26.18 million. City Office REIT had a return on equity of 1.91% and a net margin of 3.70%. During the same period in the previous year, the company posted $0.22 EPS. Equities analysts anticipate that City Office REIT, Inc. will post ($0.21) earnings per share for the current fiscal year.

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City Office REIT Company Profile

City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.

Institutional Ownership by Quarter for City Office REIT (NYSE:CIO)

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