City Office REIT Inc (CIO) Given Consensus Recommendation of “Buy” by Brokerages

City Office REIT Inc (NYSE:CIO) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $14.75.

CIO has been the topic of several research analyst reports. Zacks Investment Research lowered shares of City Office REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. ValuEngine raised shares of City Office REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. FBR & Co reissued a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. Finally, B. Riley reissued a “buy” rating and issued a $14.50 price objective on shares of City Office REIT in a research report on Tuesday, November 7th.

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in City Office REIT during the third quarter worth about $1,935,000. Keeley Teton Advisors LLC increased its position in City Office REIT by 11.5% during the third quarter. Keeley Teton Advisors LLC now owns 223,889 shares of the real estate investment trust’s stock worth $3,083,000 after acquiring an additional 23,155 shares during the period. Lido Advisors LLC bought a new position in City Office REIT during the third quarter worth about $593,000. Dimensional Fund Advisors LP increased its position in City Office REIT by 5.6% during the third quarter. Dimensional Fund Advisors LP now owns 280,216 shares of the real estate investment trust’s stock worth $3,859,000 after acquiring an additional 14,892 shares during the period. Finally, D.A. Davidson & CO. increased its position in City Office REIT by 7.0% during the third quarter. D.A. Davidson & CO. now owns 598,669 shares of the real estate investment trust’s stock worth $8,243,000 after acquiring an additional 38,950 shares during the period. 57.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of City Office REIT (NYSE:CIO) remained flat at $$12.82 on Thursday. 390,600 shares of the stock traded hands, compared to its average volume of 166,794. The company has a market capitalization of $452.06, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.50 and a beta of 0.22. City Office REIT has a one year low of $11.43 and a one year 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 declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 11th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend is Wednesday, January 10th. City Office REIT’s dividend payout ratio is -552.94%.

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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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