TIAA CREF Investment Management LLC Raises Holdings in City Office REIT, Inc. (CIO)

TIAA CREF Investment Management LLC increased its position in City Office REIT, Inc. (NYSE:CIO) by 18.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 219,914 shares of the real estate investment trust’s stock after acquiring an additional 34,082 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.73% of City Office REIT worth $2,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its position in City Office REIT by 0.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 14,000 shares of the real estate investment trust’s stock worth $170,000 after buying an additional 100 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of City Office REIT by 1.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 16,326 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 214 shares during the period. Wells Fargo & Company MN increased its stake in shares of City Office REIT by 0.6% during the second quarter. Wells Fargo & Company MN now owns 87,592 shares of the real estate investment trust’s stock valued at $1,112,000 after buying an additional 563 shares during the period. Strs Ohio increased its stake in shares of City Office REIT by 10.3% during the second quarter. Strs Ohio now owns 8,600 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 800 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of City Office REIT by 1.2% during the second quarter. Bessemer Group Inc. now owns 66,800 shares of the real estate investment trust’s stock valued at $848,000 after buying an additional 800 shares during the period. 53.94% of the stock is owned by institutional investors.

A number of equities research analysts have recently commented on the company. B. Riley reaffirmed a “buy” rating and set a $14.50 price target on shares of City Office REIT in a report on Tuesday. 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. Zacks Investment Research upgraded City Office REIT from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, July 25th. Finally, BidaskClub upgraded City Office REIT from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.50.

Shares of City Office REIT, Inc. (CIO) traded down $0.02 during mid-day trading on Friday, hitting $12.87. The company had a trading volume of 77,900 shares, compared to its average volume of 153,044. 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 9.18. The company has a market cap of $390.38, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.50 and a beta of 0.22.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date of this dividend was Tuesday, October 10th. City Office REIT’s dividend payout ratio (DPR) is presently -552.94%.

In other news, CEO James Thomas Farrar bought 6,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $12.52 per share, with a total value of $75,120.00. Following the transaction, the chief executive officer now directly owns 184,789 shares in the company, valued at approximately $2,313,558.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company’s stock.

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City Office REIT 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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