City Office REIT (NYSE:CIO) Stock Crosses Above 50 Day Moving Average – Should You Sell?

City Office REIT, Inc. (NYSE:CIO)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $6.97 and traded as high as $7.00. City Office REIT shares last traded at $6.99, with a volume of 1,264,247 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of City Office REIT in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

City Office REIT Stock Performance

The company has a market cap of $282.14 million, a P/E ratio of -2.21 and a beta of 1.59. The company’s fifty day moving average is $6.97 and its 200 day moving average is $6.94. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.80.

Institutional Investors Weigh In On City Office REIT

A number of hedge funds and other institutional investors have recently modified their holdings of CIO. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in City Office REIT by 184.0% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 693,050 shares of the real estate investment trust’s stock valued at $4,844,000 after acquiring an additional 449,000 shares during the period. Gamco Investors INC. ET AL lifted its position in City Office REIT by 78.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 50,000 shares of the real estate investment trust’s stock valued at $350,000 after purchasing an additional 22,000 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of City Office REIT by 165.5% during the fourth quarter. Gabelli Funds LLC now owns 1,041,665 shares of the real estate investment trust’s stock valued at $7,281,000 after purchasing an additional 649,386 shares during the period. Versor Investments LP grew its holdings in shares of City Office REIT by 1.1% in the fourth quarter. Versor Investments LP now owns 267,841 shares of the real estate investment trust’s stock worth $1,872,000 after purchasing an additional 2,862 shares during the last quarter. Finally, Credit Industriel ET Commercial grew its holdings in shares of City Office REIT by 103.6% in the fourth quarter. Credit Industriel ET Commercial now owns 275,144 shares of the real estate investment trust’s stock worth $1,923,000 after purchasing an additional 140,000 shares during the last quarter. Institutional investors own 67.47% of the company’s stock.

About City Office REIT

City Office REIT, Inc (NYSE:CIO) is a publicly traded real estate investment trust focused on acquiring, managing and enhancing office and related properties in select Sun Belt and Southeastern U.S. markets. Established in 2017 through a spin-off from Shorenstein Properties, the company targets high-growth secondary markets offering favorable demographic trends, employment growth and constrained new office supply. Its strategy emphasizes well-located assets in metropolitan areas experiencing population inflows and corporate relocations.

The trust’s core business activities include property acquisition, leasing, asset management and value-add redevelopment initiatives.