D.A. Davidson & CO. grew its stake in City Office REIT, Inc. (NYSE:CIO) by 7.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 598,669 shares of the real estate investment trust’s stock after acquiring an additional 38,950 shares during the quarter. D.A. Davidson & CO. owned about 1.98% of City Office REIT worth $8,243,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of CIO. Bank of America Corp DE lifted its position in City Office REIT by 189.0% during the 1st 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 lifted its holdings in shares of City Office REIT by 10.3% in the 2nd 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 acquired a new position in shares of City Office REIT in the 3rd quarter valued at about $121,000. Ameriprise Financial Inc. acquired a new position in shares of City Office REIT in the 1st quarter valued at about $148,000. Finally, Stevens Capital Management LP purchased a new position in shares of City Office REIT in the 3rd quarter valued at about $180,000. 57.45% of the stock is owned by hedge funds and other institutional investors.
CIO has been the subject of several recent analyst reports. B. Riley restated a “buy” rating and issued a $14.50 price target on shares of City Office REIT in a research note on Tuesday, November 7th. FBR & Co reiterated a “buy” rating on shares of City Office REIT in a research note on Friday, October 6th. Zacks Investment Research upgraded City Office REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, ValuEngine upgraded City Office REIT from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $14.50.
Shares of City Office REIT, Inc. (CIO) opened at $12.90 on Friday. 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 stock has a market capitalization of $393.11, a P/E ratio of 14.60, a PEG ratio of 1.52 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.
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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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