City Office REIT (NYSE:CIO) had its price target reduced by analysts at Deutsche Bank from $13.00 to $12.00 in a research note issued on Wednesday, Stock Target Advisor reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank’s price objective indicates a potential upside of 6.01% from the company’s previous close.

CIO has been the subject of a number of other reports. Zacks Investment Research cut City Office REIT from a “hold” rating to a “sell” rating in a report on Monday, December 31st. TheStreet upgraded City Office REIT from a “c” rating to a “b-” rating in a report on Wednesday, February 27th. Finally, Boenning Scattergood restated a “buy” rating on shares of City Office REIT in a report on Thursday, February 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $13.50.

Shares of City Office REIT stock opened at $11.32 on Wednesday. City Office REIT has a 12 month low of $9.73 and a 12 month high of $13.20. The stock has a market cap of $446.01 million, a P/E ratio of 10.48, a PEG ratio of 1.32 and a beta of 0.51. The company has a debt-to-equity ratio of 2.25, a current ratio of 2.29 and a quick ratio of 2.29.

In related news, CEO James Thomas Farrar purchased 8,000 shares of City Office REIT stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $11.39 per share, with a total value of $91,120.00. Following the transaction, the chief executive officer now directly owns 232,497 shares of the company’s stock, valued at $2,648,140.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its position in City Office REIT by 0.5% in the 4th quarter. American Century Companies Inc. now owns 190,841 shares of the real estate investment trust’s stock valued at $1,956,000 after purchasing an additional 931 shares in the last quarter. State of Alaska Department of Revenue raised its position in City Office REIT by 11.5% in the 4th quarter. State of Alaska Department of Revenue now owns 12,663 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 1,305 shares in the last quarter. American International Group Inc. raised its position in City Office REIT by 8.6% in the 4th quarter. American International Group Inc. now owns 25,571 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 2,026 shares in the last quarter. Cutler Group LP raised its position in City Office REIT by 346.7% in the 4th quarter. Cutler Group LP now owns 2,640 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in City Office REIT by 5.4% in the 4th quarter. Wedbush Securities Inc. now owns 45,359 shares of the real estate investment trust’s stock valued at $465,000 after purchasing an additional 2,311 shares in the last quarter. 75.15% of the stock is currently owned by institutional investors.

About City Office REIT

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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