Short Interest in City Office REIT, Inc. (NYSE:CIO) Decreases By 9.9%

City Office REIT, Inc. (NYSE:CIO) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 327,300 shares, a drop of 9.9% from the June 30th total of 363,100 shares. Based on an average daily volume of 169,400 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.9% of the shares of the stock are sold short.

City Office REIT Stock Down 6.6 %

CIO stock traded down $0.40 during midday trading on Thursday, hitting $5.65. The stock had a trading volume of 206,391 shares, compared to its average volume of 222,048. The firm has a market cap of $226.85 million, a price-to-earnings ratio of -20.07, a price-to-earnings-growth ratio of 0.98 and a beta of 1.94. The business has a 50-day moving average of $5.15 and a two-hundred day moving average of $4.93. City Office REIT has a 52-week low of $3.45 and a 52-week high of $6.70. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.23 and a quick ratio of 3.23.

City Office REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend was Wednesday, July 10th. City Office REIT’s dividend payout ratio (DPR) is -142.85%.

Analyst Ratings Changes

Separately, StockNews.com upgraded City Office REIT from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th.

Institutional Investors Weigh In On City Office REIT

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of City Office REIT by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,913,640 shares of the real estate investment trust’s stock valued at $16,633,000 after buying an additional 40,432 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of City Office REIT by 15.0% during the fourth quarter. SG Americas Securities LLC now owns 21,689 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 2,821 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of City Office REIT by 7.3% during the fourth quarter. Victory Capital Management Inc. now owns 141,000 shares of the real estate investment trust’s stock valued at $862,000 after buying an additional 9,600 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of City Office REIT during the fourth quarter valued at $119,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of City Office REIT during the fourth quarter valued at $122,000. 67.47% of the stock is owned by institutional investors.

City Office REIT Company Profile

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.7 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.