City Office REIT Inc (CIO) Given Consensus Recommendation of “Hold” by Analysts

City Office REIT Inc (NYSE:CIO) has earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $13.75.

Several equities research analysts have commented on CIO shares. B. Riley reiterated a “buy” rating and issued a $14.50 price target on shares of City Office REIT in a research report on Tuesday, November 7th. FBR & Co reiterated a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. Zacks Investment Research upgraded shares of City Office REIT from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, January 2nd. ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Deutsche Bank cut shares of City Office REIT from a “buy” rating to a “hold” rating and dropped their price target for the stock from $16.00 to $13.00 in a research report on Wednesday, January 10th.

Shares of City Office REIT (CIO) opened at $11.99 on Monday. The company has a debt-to-equity ratio of 2.80, a current ratio of 3.94 and a quick ratio of 3.94. City Office REIT has a 1 year low of $11.43 and a 1 year high of $13.93. The company has a market cap of $431.79, a PE ratio of -70.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.22.

City Office REIT (NYSE:CIO) last issued its quarterly earnings results on Monday, November 6th. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.32). City Office REIT had a return on equity of 1.91% and a net margin of 3.65%. equities analysts anticipate that City Office REIT will post 0.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Thursday, January 11th will be issued a dividend of $0.235 per share. The ex-dividend date is Wednesday, January 10th. This represents a $0.94 annualized dividend and a yield of 7.84%. City Office REIT’s payout ratio is presently -552.94%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in City Office REIT during the 3rd quarter worth about $121,000. Stevens Capital Management LP acquired a new stake in City Office REIT during the 3rd quarter worth about $180,000. Voya Investment Management LLC raised its holdings in City Office REIT by 18.8% during the 2nd quarter. Voya Investment Management LLC now owns 15,262 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 2,420 shares during the period. Nationwide Fund Advisors raised its holdings in City Office REIT by 21.0% during the 2nd quarter. Nationwide Fund Advisors now owns 18,734 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 3,245 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in City Office REIT by 27.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 25,680 shares of the real estate investment trust’s stock worth $354,000 after buying an additional 5,491 shares during the period. Hedge funds and other institutional investors own 48.28% of the company’s stock.

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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.

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