Compass Point Initiates Coverage on City Office REIT (CIO)
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.
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