Shares of City Office REIT Inc (NYSE:CIO) have been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.75.
A number of research firms have weighed in on CIO. ValuEngine raised shares of City Office REIT from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of City Office REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Deutsche Bank downgraded shares of City Office REIT from a “buy” rating to a “hold” rating and reduced their price objective for the company from $16.00 to $13.00 in a research report on Wednesday, January 10th. Finally, B. Riley reissued a “buy” rating and set a $14.50 price objective on shares of City Office REIT in a research report on Tuesday, November 7th.
Several large investors have recently added to or reduced their stakes in CIO. D.A. Davidson & CO. grew its holdings in City Office REIT by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 605,350 shares of the real estate investment trust’s stock worth $7,876,000 after buying an additional 6,681 shares in the last quarter. Rational Advisors LLC acquired a new position in City Office REIT in the 4th quarter valued at approximately $260,000. Dubuque Bank & Trust Co. increased its position in City Office REIT by 30.4% in the 4th quarter. Dubuque Bank & Trust Co. now owns 168,085 shares of the real estate investment trust’s stock valued at $2,187,000 after acquiring an additional 39,139 shares during the period. Real Estate Management Services LLC increased its position in City Office REIT by 154.6% in the 4th quarter. Real Estate Management Services LLC now owns 1,706,875 shares of the real estate investment trust’s stock valued at $22,206,000 after acquiring an additional 1,036,532 shares during the period. Finally, RMR Advisors LLC increased its position in City Office REIT by 18.5% in the 4th quarter. RMR Advisors LLC now owns 187,415 shares of the real estate investment trust’s stock valued at $2,438,000 after acquiring an additional 29,300 shares during the period. 52.17% of the stock is currently owned by hedge funds and other institutional investors.
City Office REIT (NYSE:CIO) last released its quarterly earnings data on Monday, November 6th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.32). City Office REIT had a net margin of 3.65% and a return on equity of 1.91%. sell-side analysts forecast that City Office REIT will post 0.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Thursday, January 11th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 9.00%. The ex-dividend date of this dividend was Wednesday, January 10th. City Office REIT’s payout ratio is currently -552.94%.
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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