City Office REIT Inc (CIO) Receives Average Rating of “Hold” from Analysts

City Office REIT Inc (NYSE:CIO) has been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $13.75.

Several equities analysts have issued reports on CIO shares. Zacks Investment Research upgraded shares of City Office REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, January 29th. Deutsche Bank cut shares of City Office REIT from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $16.00 to $13.00 in a research note on Wednesday, January 10th. ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, B. Riley reiterated a “buy” rating and issued a $14.50 price objective on shares of City Office REIT in a research note on Tuesday, November 7th.

A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in shares of City Office REIT by 0.6% in the second quarter. Wells Fargo & Company MN now owns 87,592 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 563 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of City Office REIT by 2.8% in the 2nd quarter. Teachers Advisors LLC now owns 58,465 shares of the real estate investment trust’s stock valued at $743,000 after purchasing an additional 1,572 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of City Office REIT by 18.8% in the 2nd quarter. Voya Investment Management LLC now owns 15,262 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 2,420 shares during the last quarter. Royal Bank of Canada grew its stake in shares of City Office REIT by 11.4% in the 2nd quarter. Royal Bank of Canada now owns 30,859 shares of the real estate investment trust’s stock valued at $392,000 after purchasing an additional 3,167 shares during the last quarter. Finally, Nationwide Fund Advisors grew its stake in shares of City Office REIT by 21.0% in the 2nd quarter. Nationwide Fund Advisors now owns 18,734 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 3,245 shares during the last quarter. 52.17% of the stock is owned by institutional investors.

City Office REIT (NYSE:CIO) traded down $0.02 on Friday, hitting $10.45. 83,042 shares of the stock traded hands, compared to its average volume of 266,894. City Office REIT has a 52 week low of $10.42 and a 52 week high of $13.93. The company has a debt-to-equity ratio of 2.80, a quick ratio of 3.94 and a current ratio of 3.94. The firm has a market capitalization of $388.93, a PE ratio of -61.35, a PEG ratio of 1.13 and a beta of 0.09.

City Office REIT (NYSE:CIO) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.32). City Office REIT had a return on equity of 1.91% and a net margin of 3.65%. equities research analysts anticipate that City Office REIT will post 0.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Thursday, January 11th were issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 9.00%. The ex-dividend date of this dividend was Wednesday, January 10th. City Office REIT’s dividend payout ratio is -552.94%.

TRADEMARK VIOLATION NOTICE: “City Office REIT Inc (CIO) Receives Average Rating of “Hold” from Analysts” was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://sportsperspectives.com/2018/02/09/city-office-reit-inc-cio-receives-average-rating-of-hold-from-analysts.html.

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.

Receive News & Ratings for City Office REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Office REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply