City Office REIT (NYSE:CIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning, and operating office properties in the United States. The Company invests in properties located in metropolitan areas in the Southern and Western United States. City Office REIT, Inc. is based in Vancouver, Canada. “

CIO has been the topic of several other reports. TheStreet raised shares of City Office REIT from a “c” rating to a “b-” rating in a research report on Wednesday, February 27th. Boenning Scattergood reaffirmed a “buy” rating on shares of City Office REIT in a report on Thursday, February 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $13.80.

NYSE CIO traded up $0.06 during trading on Tuesday, reaching $11.80. 429,070 shares of the company’s stock were exchanged, compared to its average volume of 218,779. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 2.25. The company has a market cap of $464.20 million, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.30 and a beta of 0.51. City Office REIT has a fifty-two week low of $9.73 and a fifty-two week high of $13.20.

In other news, CEO James Thomas Farrar bought 8,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $11.39 per share, for a total transaction of $91,120.00. Following the completion of the purchase, the chief executive officer now owns 232,497 shares in the company, valued at $2,648,140.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Cutler Group LP increased its position in City Office REIT by 346.7% during the fourth quarter. Cutler Group LP now owns 2,640 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,049 shares during the period. State of Alaska Department of Revenue grew its position in shares of City Office REIT by 11.5% during the 4th quarter. State of Alaska Department of Revenue now owns 12,663 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 1,305 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of City Office REIT by 246.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,758 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 10,500 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of City Office REIT by 640.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,800 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 12,800 shares during the period. Finally, Boston Advisors LLC increased its holdings in shares of City Office REIT by 25.9% during the fourth quarter. Boston Advisors LLC now owns 18,475 shares of the real estate investment trust’s stock worth $189,000 after purchasing an additional 3,795 shares during the period. 75.15% of the stock is owned by institutional investors.

City Office REIT Company Profile

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2018, CIO owned office complexes comprising 5.3 million square feet of net rentable area (“NRA”).

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