City Office REIT, Inc. (NYSE:CIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning, and operating office properties in the United States. The Company invests in properties located in metropolitan areas in the Southern and Western United States. City Office REIT, Inc. is based in Vancouver, Canada. “
Other analysts also recently issued reports about the company. B. Riley reissued a “buy” rating and issued a $14.50 target price on shares of City Office REIT in a research report on Tuesday, November 7th. FBR & Co reissued a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. ValuEngine raised City Office REIT from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, BidaskClub raised City Office REIT from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $14.50.
City Office REIT (CIO) traded up $0.01 during trading hours on Wednesday, reaching $12.81. The company’s stock had a trading volume of 161,300 shares, compared to its average volume of 152,411. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.80. City Office REIT has a twelve month low of $11.43 and a twelve month high of $13.93. The stock has a market capitalization of $387.36, a P/E ratio of 14.38, a P/E/G ratio of 1.49 and a beta of 0.22.
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In related news, CEO James Thomas Farrar purchased 6,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average cost of $12.52 per share, with a total value of $75,120.00. Following the completion of the acquisition, the chief executive officer now directly owns 184,789 shares of the company’s stock, valued at $2,313,558.28. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of City Office REIT by 189.0% in the first quarter. Bank of America Corp DE now owns 8,557 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 5,596 shares during the period. Strs Ohio boosted its stake in 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. SG Americas Securities LLC bought a new stake in City Office REIT during the third quarter valued at $121,000. Ameriprise Financial Inc. bought a new stake in City Office REIT during the first quarter valued at $148,000. Finally, Nomura Asset Management Co. Ltd. boosted its stake in City Office REIT by 0.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 14,000 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 100 shares during the period. 54.75% of the stock is owned by hedge funds and other institutional investors.
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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