Shares of City Office REIT Inc (NYSE:CIO) hit a new 52-week low during trading on Monday . The stock traded as low as $10.29 and last traded at $10.30, with a volume of 293060 shares trading hands. The stock had previously closed at $10.45.

CIO has been the topic of a number of research reports. ValuEngine downgraded shares of City Office REIT from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of City Office REIT from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. B. Riley reiterated a “buy” rating and issued a $14.50 price target on shares of City Office REIT in a report on Tuesday, November 7th. Finally, Deutsche Bank downgraded shares of City Office REIT from a “buy” rating to a “hold” rating and reduced their price target for the company from $16.00 to $13.00 in a report on Wednesday, January 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.25.

The company has a current ratio of 3.94, a quick ratio of 3.94 and a debt-to-equity ratio of 2.80. The stock has a market capitalization of $376.33, a price-to-earnings ratio of -61.47, a PEG ratio of 1.09 and a beta of 0.09.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Thursday, January 11th were issued a $0.235 dividend. The ex-dividend date was Wednesday, January 10th. This represents a $0.94 dividend on an annualized basis and a yield of 9.15%. City Office REIT’s dividend payout ratio is currently -552.94%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Real Estate Management Services LLC increased its holdings in City Office REIT by 154.6% in the 4th quarter. Real Estate Management Services LLC now owns 1,706,875 shares of the real estate investment trust’s stock valued at $22,206,000 after acquiring an additional 1,036,532 shares during the last quarter. BlackRock Inc. increased its holdings in shares of City Office REIT by 1.3% in the 4th quarter. BlackRock Inc. now owns 1,554,757 shares of the real estate investment trust’s stock worth $20,228,000 after buying an additional 20,130 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of City Office REIT by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,099,528 shares of the real estate investment trust’s stock worth $15,141,000 after buying an additional 47,492 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of City Office REIT by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,093,747 shares of the real estate investment trust’s stock worth $13,891,000 after buying an additional 56,367 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of City Office REIT by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 605,350 shares of the real estate investment trust’s stock worth $7,876,000 after buying an additional 6,681 shares during the last quarter. Institutional investors own 52.02% of the company’s stock.

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City Office REIT Company Profile

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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