City Office REIT Inc (CIO) Stake Lifted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of City Office REIT Inc (NYSE:CIO) by 52.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 366,495 shares of the real estate investment trust’s stock after acquiring an additional 126,520 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.93% of City Office REIT worth $4,625,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. RMR Advisors LLC increased its stake in shares of City Office REIT by 2.0% during the third quarter. RMR Advisors LLC now owns 228,427 shares of the real estate investment trust’s stock worth $2,883,000 after acquiring an additional 4,500 shares during the period. Teachers Insurance & Annuity Association of America increased its stake in shares of City Office REIT by 10.6% during the second quarter. Teachers Insurance & Annuity Association of America now owns 47,817 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 4,593 shares during the period. Rhumbline Advisers increased its stake in shares of City Office REIT by 15.3% during the second quarter. Rhumbline Advisers now owns 40,236 shares of the real estate investment trust’s stock worth $516,000 after acquiring an additional 5,348 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of City Office REIT by 22.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 36,503 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 6,700 shares during the period. Finally, D.A. Davidson & CO. increased its stake in shares of City Office REIT by 1.1% during the third quarter. D.A. Davidson & CO. now owns 646,066 shares of the real estate investment trust’s stock worth $8,153,000 after acquiring an additional 7,039 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

Several brokerages have weighed in on CIO. Zacks Investment Research upgraded shares of City Office REIT from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. TheStreet lowered shares of City Office REIT from a “b-” rating to a “c+” rating in a research report on Thursday, October 11th. JMP Securities began coverage on shares of City Office REIT in a research report on Tuesday, October 9th. They set an “outperform” rating and a $14.00 target price on the stock. B. Riley upped their target price on shares of City Office REIT from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. Finally, Boenning Scattergood set a $15.00 target price on shares of City Office REIT and gave the stock a “buy” rating in a research report on Monday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.17.

In other City Office REIT news, Director Stephen B. Shraiberg purchased 35,000 shares of the stock in a transaction dated Monday, November 5th. The shares were acquired at an average cost of $10.79 per share, for a total transaction of $377,650.00. Following the completion of the transaction, the director now directly owns 84,185 shares of the company’s stock, valued at $908,356.15. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Shares of CIO opened at $10.94 on Monday. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.80. City Office REIT Inc has a twelve month low of $10.03 and a twelve month high of $13.43. The stock has a market cap of $432.61 million, a price-to-earnings ratio of 9.68, a P/E/G ratio of 1.14 and a beta of 0.33.

City Office REIT (NYSE:CIO) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). City Office REIT had a net margin of 34.71% and a return on equity of 15.81%. The company had revenue of $33.55 million for the quarter, compared to analyst estimates of $33.16 million. Equities analysts anticipate that City Office REIT Inc will post 1.07 EPS for the current year.

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City Office REIT Profile

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2018, CIO owned office complexes comprising 5.3 million square feet of net rentable area (“NRA”).

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Institutional Ownership by Quarter for City Office REIT (NYSE:CIO)

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