City Office REIT Inc (NYSE:CIO) gapped down before the market opened on Tuesday . The stock had previously closed at $13.62, but opened at $13.15. City Office REIT shares last traded at $12.82, with a volume of 2738600 shares.

Several research firms recently weighed in on CIO. ValuEngine raised shares of City Office REIT from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Zacks Investment Research cut shares of City Office REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. FBR & Co reaffirmed a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. Finally, B. Riley reaffirmed a “buy” rating and set a $14.50 price objective on shares of City Office REIT in a research report on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $14.50.

The firm has a market capitalization of $452.06, a price-to-earnings ratio of 14.40, a PEG ratio of 1.50 and a beta of 0.22. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Thursday, January 11th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date is Wednesday, January 10th. City Office REIT’s dividend payout ratio is presently -552.94%.

A number of large investors have recently added to or reduced their stakes in CIO. Bank of America Corp DE increased its position in City Office REIT by 189.0% during the 1st quarter. Bank of America Corp DE now owns 8,557 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 5,596 shares during the period. Strs Ohio grew its position in shares of City Office REIT by 10.3% during the 2nd quarter. Strs Ohio now owns 8,600 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 800 shares during the period. SG Americas Securities LLC acquired a new stake in shares of City Office REIT during the 3rd quarter worth approximately $121,000. Stevens Capital Management LP acquired a new stake in shares of City Office REIT during the 3rd quarter worth approximately $180,000. Finally, Voya Investment Management LLC grew its position in shares of City Office REIT by 18.8% during the 2nd quarter. Voya Investment Management LLC now owns 15,262 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 2,420 shares during the period. 57.45% of the stock is owned by institutional investors and hedge funds.

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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.

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