City Office REIT (NYSE:CIO) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
A number of other equities research analysts also recently issued reports on the company. Boenning Scattergood set a $15.00 price target on City Office REIT and gave the company a “buy” rating in a research report on Monday, November 5th. TheStreet downgraded City Office REIT from a “b-” rating to a “c+” rating in a research report on Thursday, October 11th. Zacks Investment Research raised City Office REIT from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Finally, JMP Securities started coverage on City Office REIT in a research report on Tuesday, October 9th. They set an “outperform” rating and a $14.00 price target for the company. One equities research 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. City Office REIT currently has an average rating of “Hold” and a consensus target price of $14.17.
City Office REIT stock opened at $11.31 on Wednesday. The firm has a market capitalization of $433.40 million, a P/E ratio of 11.66, 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 quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 1.80.
City Office REIT (NYSE:CIO) last released its earnings results on Thursday, November 1st. The real estate investment trust reported ($0.08) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). The firm had revenue of $33.55 million during the quarter, compared to analyst estimates of $33.16 million. City Office REIT had a return on equity of 15.81% and a net margin of 34.71%. Research analysts predict that City Office REIT will post 1.07 EPS for the current year.
In other news, Director Stephen B. Shraiberg purchased 35,000 shares of the stock in a transaction on Monday, November 5th. The stock was purchased at an average price of $10.79 per share, with a total value of $377,650.00. Following the completion of the transaction, the director now owns 84,185 shares in the company, valued at $908,356.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of City Office REIT in the second quarter worth about $101,000. State of Alaska Department of Revenue purchased a new stake in shares of City Office REIT in the third quarter worth about $143,000. Private Advisor Group LLC purchased a new stake in shares of City Office REIT in the second quarter worth about $185,000. Deltec Asset Management LLC purchased a new stake in shares of City Office REIT in the third quarter worth about $189,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of City Office REIT in the third quarter worth about $244,000. 73.41% of the stock is owned by institutional investors.
About City Office REIT
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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