City Office REIT (NYSE:CIO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of City Office REIT (NYSE:CIO – Get Rating) in a research note released on Thursday. The brokerage issued a hold rating on the real estate investment trust’s stock.

Separately, B. Riley decreased their price objective on shares of City Office REIT from $14.00 to $12.00 and set a buy rating for the company in a research report on Monday, February 27th.

City Office REIT Price Performance

NYSE:CIO opened at $6.48 on Thursday. City Office REIT has a one year low of $6.42 and a one year high of $18.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.48. The firm has a market cap of $258.75 million, a price-to-earnings ratio of 38.12 and a beta of 1.62. The firm’s fifty day moving average is $8.89 and its two-hundred day moving average is $9.54.

City Office REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, April 11th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, April 10th. This represents a $0.80 annualized dividend and a dividend yield of 12.35%. City Office REIT’s dividend payout ratio (DPR) is presently 470.62%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. raised its position in shares of City Office REIT by 0.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,191,577 shares of the real estate investment trust’s stock worth $38,703,000 after purchasing an additional 5,916 shares during the last quarter. Nomura Holdings Inc. raised its position in shares of City Office REIT by 4.3% during the 2nd quarter. Nomura Holdings Inc. now owns 2,059,698 shares of the real estate investment trust’s stock worth $26,778,000 after purchasing an additional 84,344 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of City Office REIT by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,727,316 shares of the real estate investment trust’s stock worth $22,369,000 after purchasing an additional 108,800 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of City Office REIT by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,378,558 shares of the real estate investment trust’s stock worth $11,552,000 after purchasing an additional 61,675 shares during the last quarter. Finally, State Street Corp raised its position in shares of City Office REIT by 3.0% during the 1st quarter. State Street Corp now owns 1,376,131 shares of the real estate investment trust’s stock worth $24,302,000 after purchasing an additional 40,105 shares during the last quarter. Institutional investors and hedge funds own 76.80% of the company’s stock.

About City Office REIT

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City Office REIT, Inc is a real estate investment trust. It focuses on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. The company was founded on November 26, 2013 and is headquartered in Vancouver, Canada.