Dubuque Bank & Trust Co. lowered its holdings in City Office REIT Inc (NYSE:CIO) by 19.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,560 shares of the real estate investment trust’s stock after selling 34,990 shares during the period. Dubuque Bank & Trust Co. owned approximately 0.37% of City Office REIT worth $1,781,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Princeton Capital Management LLC raised its holdings in shares of City Office REIT by 122.4% during the first quarter. Princeton Capital Management LLC now owns 2,371 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,305 shares in the last quarter. FMR LLC purchased a new stake in shares of City Office REIT during the first quarter worth $31,000. Cutler Group LP raised its holdings in shares of City Office REIT by 40.9% during the first quarter. Cutler Group LP now owns 3,720 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 1,080 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of City Office REIT by 556.7% during the first quarter. BNP Paribas Arbitrage SA now owns 7,145 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 6,057 shares in the last quarter. Finally, WINTON GROUP Ltd raised its holdings in shares of City Office REIT by 12.7% during the second quarter. WINTON GROUP Ltd now owns 12,236 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 1,378 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Several analysts recently issued reports on the company. Deutsche Bank cut their price objective on Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Boenning Scattergood reiterated a “neutral” rating on shares of Farmers & Merchants Bancorp, Inc. (OH) in a report on Monday, May 6th. Finally, Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. City Office REIT has an average rating of “Buy” and an average price target of $13.50.

In related news, Director John Sweet bought 3,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $11.84 per share, for a total transaction of $35,520.00. Following the completion of the acquisition, the director now directly owns 9,867 shares in the company, valued at $116,825.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is owned by company insiders.

NYSE CIO traded up $0.15 during trading on Tuesday, hitting $12.14. 168,600 shares of the company traded hands, compared to its average volume of 201,994. City Office REIT Inc has a 12 month low of $9.73 and a 12 month high of $13.08. The business’s fifty day simple moving average is $12.15. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.76 and a quick ratio of 2.76. The company has a market cap of $475.28 million, a P/E ratio of 11.24, a P/E/G ratio of 1.30 and a beta of 0.46.

City Office REIT (NYSE:CIO) last posted its earnings results on Friday, May 3rd. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.35). City Office REIT had a negative net margin of 7.39% and a negative return on equity of 3.51%. The company had revenue of $37.12 million for the quarter, compared to the consensus estimate of $36.24 million. On average, equities research analysts predict that City Office REIT Inc will post 1.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.94 annualized dividend and a yield of 7.74%. City Office REIT’s dividend payout ratio (DPR) is currently 87.04%.

About City Office REIT

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2018, CIO owned office complexes comprising 5.7 million square feet of net rentable area (“NRA”).

Further Reading: Neutral Rating

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

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