Versor Investments LP Takes Position in City Office REIT, Inc. $CIO

Versor Investments LP purchased a new position in City Office REIT, Inc. (NYSE:CIO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 264,979 shares of the real estate investment trust’s stock, valued at approximately $1,844,000.

Several other institutional investors also recently bought and sold shares of CIO. Russell Investments Group Ltd. raised its stake in City Office REIT by 71.4% in the second quarter. Russell Investments Group Ltd. now owns 7,230 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,013 shares in the last quarter. Strs Ohio bought a new stake in City Office REIT during the 1st quarter valued at $40,000. PNC Financial Services Group Inc. increased its holdings in shares of City Office REIT by 134.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,869 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 5,082 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of City Office REIT by 473.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,623 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 7,946 shares during the period. Finally, Pitcairn Co. bought a new position in shares of City Office REIT in the 2nd quarter worth $54,000. 67.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of City Office REIT in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

City Office REIT Price Performance

Shares of CIO opened at $6.99 on Tuesday. The company has a market cap of $282.14 million, a price-to-earnings ratio of -2.21 and a beta of 1.59. City Office REIT, Inc. has a twelve month low of $4.19 and a twelve month high of $7.01. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $6.97 and a two-hundred day moving average of $6.94.

City Office REIT Profile

City Office REIT, Inc (NYSE:CIO) is a publicly traded real estate investment trust focused on acquiring, managing and enhancing office and related properties in select Sun Belt and Southeastern U.S. markets. Established in 2017 through a spin-off from Shorenstein Properties, the company targets high-growth secondary markets offering favorable demographic trends, employment growth and constrained new office supply. Its strategy emphasizes well-located assets in metropolitan areas experiencing population inflows and corporate relocations.

The trust’s core business activities include property acquisition, leasing, asset management and value-add redevelopment initiatives.