Insider Buying: City Office REIT CEO Acquires 8,000 Shares of Stock (CIO)
City Office REIT (NYSE:CIO) CEO James Thomas Farrar purchased 8,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average price of $12.31 per share, with a total value of $98,480.00. Following the completion of the acquisition, the chief executive officer now directly owns 74,094 shares of the company’s stock, valued at approximately $912,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
City Office REIT (NYSE:CIO) traded up 0.49% during mid-day trading on Friday, hitting $12.42. 89,741 shares of the company’s stock traded hands. City Office REIT has a 52 week low of $12.22 and a 52 week high of $12.60. The stock has a 50-day moving average of $12.46 and a 200-day moving average of $12.46. The company’s market cap is $99.5 million.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.183 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Tuesday, July 1st.
Several analysts have recently commented on the stock. Analysts at Wunderlich initiated coverage on shares of City Office REIT in a research note on Friday, May 16th. They set a “buy” rating and a $16.00 price target on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of City Office REIT in a research note on Tuesday, May 13th. They set a “buy” rating and a $15.00 price target on the stock. Finally, analysts at Oppenheimer initiated coverage on shares of City Office REIT in a research note on Monday, May 12th. They set an “outperform” rating and a $15.00 price target on the stock.
City Office REIT, Inc is formed to acquire, own and operate office properties located within its specified target markets in the United States.
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