City Office REIT (NYSE:CIO) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

City Office REIT, Inc. (NYSE:CIO) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.95 and traded as high as $6.97. City Office REIT shares last traded at $6.97, with a volume of 399,836 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of City Office REIT in a research report on Wednesday, October 8th. Janney Montgomery Scott reissued a “neutral” rating on shares of City Office REIT in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

City Office REIT Stock Performance

The stock has a market capitalization of $281.31 million, a P/E ratio of -2.20, a PEG ratio of 1.12 and a beta of 1.82. The firm has a 50-day moving average of $6.95 and a 200 day moving average of $5.90. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 1.29.

City Office REIT (NYSE:CIO) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $42.54 million. City Office REIT had a negative return on equity of 20.26% and a negative net margin of 71.27%. Research analysts anticipate that City Office REIT, Inc. will post 1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management lifted its holdings in shares of City Office REIT by 6.5% during the second quarter. LSV Asset Management now owns 1,582,009 shares of the real estate investment trust’s stock valued at $8,448,000 after acquiring an additional 96,329 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of City Office REIT by 0.6% during the second quarter. Acadian Asset Management LLC now owns 777,348 shares of the real estate investment trust’s stock valued at $4,149,000 after acquiring an additional 4,784 shares during the period. Sonora Investment Management Group LLC lifted its holdings in shares of City Office REIT by 159.8% during the second quarter. Sonora Investment Management Group LLC now owns 328,120 shares of the real estate investment trust’s stock valued at $1,752,000 after acquiring an additional 201,820 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of City Office REIT during the first quarter valued at $1,474,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of City Office REIT by 21.0% during the first quarter. Penserra Capital Management LLC now owns 215,877 shares of the real estate investment trust’s stock valued at $1,120,000 after acquiring an additional 37,524 shares during the period. 67.47% of the stock is owned by institutional investors.

About City Office REIT

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.