City Office REIT (CIO) Downgraded to Sell at Zacks Investment Research

City Office REIT (NYSE:CIO) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Monday, January 8th.

According to Zacks, “City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning, and operating office properties in the United States. The Company invests in properties located in metropolitan areas in the Southern and Western United States. City Office REIT, Inc. is based in Vancouver, Canada. “

Other research analysts have also issued reports about the company. B. Riley reiterated a “buy” rating and issued a $14.50 price objective on shares of City Office REIT in a research report on Tuesday, November 7th. ValuEngine upgraded City Office REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, FBR & Co restated a “buy” rating on shares of City Office REIT in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.25.

City Office REIT (NYSE CIO) traded up $0.08 during midday trading on Monday, reaching $12.07. The company had a trading volume of 274,761 shares, compared to its average volume of 333,120. City Office REIT has a 12 month low of $11.43 and a 12 month high of $13.93. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.80. The firm has a market cap of $428.08, a PE ratio of -71.00, a price-to-earnings-growth ratio of 1.29 and a beta of 0.22.

City Office REIT (NYSE:CIO) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.32). City Office REIT had a net margin of 3.65% and a return on equity of 1.91%. equities analysts anticipate that City Office REIT will post 0.95 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in City Office REIT in the third quarter valued at $121,000. Stevens Capital Management LP acquired a new stake in City Office REIT in the third quarter valued at $180,000. Voya Investment Management LLC raised its stake in City Office REIT by 18.8% in the second quarter. Voya Investment Management LLC now owns 15,262 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 2,420 shares in the last quarter. Nationwide Fund Advisors raised its stake in City Office REIT by 21.0% in the second quarter. Nationwide Fund Advisors now owns 18,734 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 3,245 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in City Office REIT in the second quarter valued at $331,000. Institutional investors and hedge funds own 48.28% of the company’s stock.

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About City Office REIT

City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.

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