City Office REIT (NYSE:CIO) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

CIO has been the subject of a number of other research reports. Zacks Investment Research downgraded City Office REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. FBR & Co reissued a “buy” rating on shares of City Office REIT in a research note on Friday, October 6th. Finally, B. Riley reissued a “buy” rating and set a $14.50 target price on shares of City Office REIT in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.50.

Shares of City Office REIT (CIO) traded down $0.19 during trading hours on Friday, hitting $13.05. The stock had a trading volume of 128,368 shares, compared to its average volume of 145,963. City Office REIT has a one year low of $11.43 and a one year high of $13.93. The firm has a market cap of $394.92, a P/E ratio of 14.66, a PEG ratio of 1.52 and a beta of 0.22. The company has a debt-to-equity ratio of 2.80, a current ratio of 3.94 and a quick ratio of 3.94.

Several hedge funds and other institutional investors have recently bought and sold shares of CIO. Real Estate Management Services LLC increased its stake in shares of City Office REIT by 38.1% in the third quarter. Real Estate Management Services LLC now owns 670,343 shares of the real estate investment trust’s stock worth $9,231,000 after acquiring an additional 185,016 shares during the last quarter. LSV Asset Management increased its stake in shares of City Office REIT by 25.8% in the second quarter. LSV Asset Management now owns 843,506 shares of the real estate investment trust’s stock worth $10,712,000 after acquiring an additional 172,841 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of City Office REIT by 18.6% in the first quarter. Vanguard Group Inc. now owns 1,037,380 shares of the real estate investment trust’s stock worth $12,605,000 after acquiring an additional 162,735 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of City Office REIT in the third quarter worth $1,935,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of City Office REIT by 114.3% in the first quarter. Dimensional Fund Advisors LP now owns 213,261 shares of the real estate investment trust’s stock worth $2,591,000 after acquiring an additional 113,742 shares during the last quarter. 57.00% of the stock is currently owned by institutional investors and hedge funds.

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About City Office REIT

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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