Vanguard Group Inc. Has $13.89 Million Stake in City Office REIT, Inc. (CIO)

Vanguard Group Inc. grew its stake in City Office REIT, Inc. (NYSE:CIO) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,093,747 shares of the real estate investment trust’s stock after purchasing an additional 56,367 shares during the period. Vanguard Group Inc. owned approximately 3.61% of City Office REIT worth $13,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of CIO. Bank of New York Mellon Corp grew its position in shares of City Office REIT by 22.2% in the first quarter. Bank of New York Mellon Corp now owns 120,132 shares of the real estate investment trust’s stock valued at $1,459,000 after purchasing an additional 21,856 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of City Office REIT in the first quarter valued at approximately $148,000. JPMorgan Chase & Co. grew its position in shares of City Office REIT by 50.9% in the first quarter. JPMorgan Chase & Co. now owns 17,594 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 5,933 shares in the last quarter. American International Group Inc. grew its position in shares of City Office REIT by 43.6% in the first quarter. American International Group Inc. now owns 15,518 shares of the real estate investment trust’s stock valued at $189,000 after purchasing an additional 4,710 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in shares of City Office REIT by 35.5% in the first quarter. Teachers Advisors LLC now owns 56,893 shares of the real estate investment trust’s stock valued at $691,000 after purchasing an additional 14,909 shares in the last quarter. Institutional investors and hedge funds own 55.64% of the company’s stock.

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A number of research firms have recently issued reports on CIO. Zacks Investment Research lowered City Office REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. B. Riley restated 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 restated a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. ValuEngine upgraded City Office REIT from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Finally, BidaskClub upgraded City Office REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $14.50.

In other City Office REIT news, CEO James Thomas Farrar acquired 6,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $12.52 per share, for a total transaction of $75,120.00. Following the completion of the transaction, the chief executive officer now owns 184,789 shares of the company’s stock, valued at approximately $2,313,558.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

City Office REIT, Inc. (NYSE CIO) opened at $12.79 on Monday. The firm has a market capitalization of $387.05, a P/E ratio of 14.37, a P/E/G ratio of 1.49 and a beta of 0.22. City Office REIT, Inc. has a 52-week low of $11.43 and a 52-week high of $13.93. The company has a debt-to-equity ratio of 2.80, a current ratio of 3.94 and a quick ratio of 3.94.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th were given a $0.235 dividend. The ex-dividend date of this dividend was Tuesday, October 10th. This represents a $0.94 annualized dividend and a yield of 7.35%. City Office REIT’s payout ratio is -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.

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

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