Shares of City Office REIT Inc (NYSE:CIO) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $14.00.
A number of equities analysts recently commented on CIO shares. ValuEngine cut shares of City Office REIT from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Zacks Investment Research raised shares of City Office REIT from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Boenning Scattergood set a $15.00 price target on shares of City Office REIT and gave the stock a “buy” rating in a report on Monday, November 5th. JMP Securities began coverage on shares of City Office REIT in a report on Tuesday, October 9th. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, TheStreet lowered shares of City Office REIT from a “b-” rating to a “c+” rating in a report on Thursday, October 11th.
Shares of NYSE:CIO opened at $10.96 on Thursday. The firm has a market capitalization of $433.40 million, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.14 and a beta of 0.33. City Office REIT has a 52 week low of $10.03 and a 52 week high of $13.37. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.54 and a current ratio of 2.54.
City Office REIT (NYSE:CIO) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $33.55 million for the quarter, compared to analysts’ expectations of $33.16 million. City Office REIT had a net margin of 34.71% and a return on equity of 15.81%. As a group, equities analysts forecast that City Office REIT will post 1.07 earnings per share for the current fiscal year.
In other news, Director Stephen B. Shraiberg purchased 35,000 shares of the business’s stock in a transaction on Monday, November 5th. The shares were acquired at an average price of $10.79 per share, with a total value of $377,650.00. Following the acquisition, the director now directly owns 84,185 shares in the company, valued at $908,356.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.20% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of City Office REIT during the 2nd quarter valued at about $101,000. State of Alaska Department of Revenue bought a new stake in shares of City Office REIT during the 3rd quarter valued at about $143,000. Private Advisor Group LLC bought a new stake in shares of City Office REIT during the 2nd quarter valued at about $185,000. Deltec Asset Management LLC bought a new stake in shares of City Office REIT during the 3rd quarter valued at about $189,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of City Office REIT during the 3rd quarter valued at about $244,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.
City Office REIT Company Profile
City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2018, CIO owned office complexes comprising 5.3 million square feet of net rentable area (NRA).
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