City Office REIT, Inc. (NYSE:CIO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning, and operating office properties in the United States. The Company invests in properties located in metropolitan areas in the Southern and Western United States. City Office REIT, Inc. is based in Vancouver, Canada. “

A number of other research firms also recently weighed in on CIO. ValuEngine downgraded City Office REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub upgraded City Office REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Deutsche Bank AG upped their target price on City Office REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. FBR & Co assumed coverage on City Office REIT in a research report on Tuesday, July 11th. They set an “outperform” rating and a $14.50 target price for the company. Finally, TheStreet upgraded City Office REIT from a “d” rating to a “c” rating in a research report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.63.

Shares of City Office REIT (NYSE:CIO) remained flat at $12.60 on Tuesday. The company’s stock had a trading volume of 104,534 shares. The stock has a 50-day moving average price of $12.63 and a 200-day moving average price of $12.51. The firm has a market capitalization of $381.24 million, a price-to-earnings ratio of 262.50 and a beta of 0.22. City Office REIT has a 52-week low of $11.43 and a 52-week high of $13.62.

City Office REIT (NYSE:CIO) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $25.16 million during the quarter, compared to the consensus estimate of $26.18 million. City Office REIT had a return on equity of 2.01% and a net margin of 3.70%. During the same period in the prior year, the company posted $0.22 EPS. On average, equities research analysts anticipate that City Office REIT will post ($0.31) EPS for the current year.

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A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in City Office REIT by 189.0% in the first quarter. Bank of America Corp DE now owns 8,557 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 5,596 shares in the last quarter. Strs Ohio raised its stake in City Office REIT by 10.3% in the second quarter. Strs Ohio now owns 8,600 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 800 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in City Office REIT during the first quarter worth approximately $148,000. Stoneridge Investment Partners LLC purchased a new stake in City Office REIT during the first quarter worth approximately $150,000. Finally, Schnieders Capital Management LLC raised its stake in City Office REIT by 5.1% in the first quarter. Schnieders Capital Management LLC now owns 12,400 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 53.35% of the company’s stock.

City Office REIT Company Profile

City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.

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