Short Interest in City Office REIT, Inc. (NYSE:CIO) Grows By 49.3%

City Office REIT, Inc. (NYSE:CIO) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 368,200 shares, an increase of 49.3% from the September 15th total of 246,700 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 623,400 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 623,400 shares, the short-interest ratio is currently 0.6 days. Approximately 1.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC bought a new stake in City Office REIT during the first quarter worth about $1,474,000. Sonora Investment Management Group LLC boosted its position in shares of City Office REIT by 159.8% in the 2nd quarter. Sonora Investment Management Group LLC now owns 328,120 shares of the real estate investment trust’s stock worth $1,752,000 after purchasing an additional 201,820 shares in the last quarter. Nuveen LLC bought a new stake in shares of City Office REIT in the 1st quarter worth approximately $717,000. AlphaCore Capital LLC purchased a new stake in shares of City Office REIT in the 2nd quarter worth approximately $689,000. Finally, LSV Asset Management increased its position in City Office REIT by 6.5% during the 2nd quarter. LSV Asset Management now owns 1,582,009 shares of the real estate investment trust’s stock valued at $8,448,000 after buying an additional 96,329 shares in the last quarter. 67.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CIO has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of City Office REIT in a research report on Wednesday, October 8th. Janney Montgomery Scott reissued a “neutral” rating on shares of City Office REIT in a research note on Friday, July 25th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

City Office REIT Stock Performance

Shares of CIO opened at $6.94 on Thursday. City Office REIT has a one year low of $4.19 and a one year high of $7.01. The firm has a market capitalization of $279.90 million, a PE ratio of -2.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.82. The company has a 50-day simple moving average of $6.95 and a two-hundred day simple moving average of $5.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.31 and a quick ratio of 3.31.

City Office REIT (NYSE:CIO) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $42.20 million for the quarter, compared to analyst estimates of $42.54 million. City Office REIT had a negative return on equity of 20.26% and a negative net margin of 71.27%. On average, analysts anticipate that City Office REIT will post 1 EPS for the current fiscal year.

City Office REIT Company Profile

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.7 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.