State of New Jersey Common Pension Fund D held its stake in shares of City Office REIT, Inc. (NYSE:CIO) during the second quarter, Holdings Channel reports. The institutional investor owned 375,000 shares of the real estate investment trust’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in City Office REIT were worth $4,762,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CIO. Russell Investments Group Ltd. purchased a new position in City Office REIT during the fourth quarter worth approximately $182,000. Dimensional Fund Advisors LP boosted its position in shares of City Office REIT by 28.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 99,519 shares of the real estate investment trust’s stock worth $1,311,000 after buying an additional 21,862 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of City Office REIT by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,112 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 45 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of City Office REIT by 29.5% in the fourth quarter. Teachers Advisors LLC now owns 41,984 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 9,553 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of City Office REIT by 304.9% in the fourth quarter. Macquarie Group Ltd. now owns 41,300 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 31,100 shares in the last quarter. Institutional investors own 53.03% of the company’s stock.

City Office REIT, Inc. (NYSE CIO) opened at 12.65 on Tuesday. The firm has a 50-day moving average of $12.59 and a 200 day moving average of $12.50. City Office REIT, Inc. has a 52-week low of $11.43 and a 52-week high of $13.55. The firm’s market cap is $382.81 million.

City Office REIT (NYSE:CIO) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. City Office REIT had a net margin of 3.70% and a return on equity of 1.91%. The company had revenue of $25.16 million for the quarter, compared to analyst estimates of $26.18 million. During the same period in the prior year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that City Office REIT, Inc. will post ($0.10) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Tuesday, July 11th were issued a $0.235 dividend. The ex-dividend date was Friday, July 7th. This represents a $0.94 annualized dividend and a yield of 7.43%. City Office REIT’s dividend payout ratio is currently -723.08%.

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CIO has been the topic of a number of recent research reports. TheStreet raised shares of City Office REIT from a “d” rating to a “c” rating in a report on Thursday, May 18th. Deutsche Bank AG raised their target price on shares of City Office REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Zacks Investment Research cut City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. FBR & Co began coverage on City Office REIT in a report on Tuesday, July 11th. They set an “outperform” rating and a $14.50 price target on the stock. Finally, ValuEngine cut City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.63.

About City Office REIT

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

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