Share on StockTwits

Research analysts at Compass Point initiated coverage on shares of City Office REIT (NYSE:CIO) in a report released on Friday. The firm set a “buy” rating and a $15.50 price target on the stock. Compass Point’s price objective would indicate a potential upside of 22.72% from the company’s current price.

In other City Office REIT news, Director John R. Mclernon bought 6,000 shares of the stock in a transaction dated Friday, May 30th. The shares were purchased at an average price of $12.36 per share, with a total value of $74,160.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of City Office REIT (NYSE:CIO) opened at 12.54 on Friday. City Office REIT has a 52 week low of $12.22 and a 52 week high of $12.64. The stock’s 50-day moving average is $12.47 and its 200-day moving average is $12.46. The company’s market cap is $100.5 million.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 17th. Stockholders 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 5.80%. The ex-dividend date of this dividend is Tuesday, July 1st.

A number of other analysts have also recently weighed in on CIO. 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.