City Office REIT Inc (NYSE:CIO) has received a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $14.00.

A number of equities research analysts have recently commented on the company. Boenning Scattergood assumed coverage on City Office REIT in a research report on Tuesday, July 10th. They set a “buy” rating and a $15.00 price objective for the company. Zacks Investment Research downgraded City Office REIT from a “buy” rating to a “hold” rating in a research report on Monday, September 3rd. Royal Bank of Canada assumed coverage on City Office REIT in a research report on Wednesday, June 27th. They set an “outperform” rating and a $14.00 price objective for the company. B. Riley increased their price objective on City Office REIT from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Monday, August 6th. Finally, TheStreet upgraded City Office REIT from a “c” rating to a “b-” rating in a research report on Tuesday, May 29th.

CIO traded up $0.16 during trading on Friday, reaching $12.43. The stock had a trading volume of 669,974 shares, compared to its average volume of 283,087. The company has a market capitalization of $443.36 million, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.24 and a beta of 0.15. The company has a debt-to-equity ratio of 1.75, a current ratio of 3.45 and a quick ratio of 3.45. City Office REIT has a 1-year low of $10.03 and a 1-year high of $13.93.

City Office REIT (NYSE:CIO) last released its earnings results on Thursday, August 2nd. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.32). City Office REIT had a return on equity of 17.42% and a net margin of 36.89%. The firm had revenue of $30.24 million during the quarter, compared to analyst estimates of $31.09 million. equities analysts expect that City Office REIT will post 1.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Thursday, October 11th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Wednesday, October 10th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.56%. City Office REIT’s dividend payout ratio (DPR) is presently 96.91%.

Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of City Office REIT by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 2,335,648 shares of the real estate investment trust’s stock valued at $27,000,000 after acquiring an additional 12,400 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of City Office REIT by 9.8% in the second quarter. BlackRock Inc. now owns 1,989,646 shares of the real estate investment trust’s stock valued at $25,527,000 after purchasing an additional 177,908 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of City Office REIT by 28.6% in the second quarter. Renaissance Technologies LLC now owns 1,558,500 shares of the real estate investment trust’s stock valued at $19,996,000 after purchasing an additional 346,900 shares in the last quarter. LSV Asset Management lifted its holdings in shares of City Office REIT by 5.4% in the second quarter. LSV Asset Management now owns 880,475 shares of the real estate investment trust’s stock valued at $11,296,000 after purchasing an additional 45,325 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of City Office REIT by 3.9% in the first quarter. Millennium Management LLC now owns 708,233 shares of the real estate investment trust’s stock valued at $8,187,000 after purchasing an additional 26,405 shares in the last quarter. Institutional investors own 69.24% of the company’s stock.

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 June 30, 2018, CIO owned office complexes comprising 4.9 million square feet of net rentable area (?NRA?).

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Analyst Recommendations for City Office REIT (NYSE:CIO)

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