City Office REIT (NYSE:CIO) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Thursday.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada assumed coverage on City Office REIT in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $14.00 target price on the stock. Boenning Scattergood assumed coverage on City Office REIT in a research note on Tuesday, July 10th. They issued a “buy” rating and a $15.00 target price on the stock. B. Riley lifted their target price on City Office REIT from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research lowered City Office REIT from a “buy” rating to a “hold” rating in a research note on Monday, September 3rd. Finally, JMP Securities assumed coverage on City Office REIT in a research note on Tuesday. They issued an “outperform” rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.17.

Shares of CIO stock traded down $0.18 on Thursday, hitting $11.41. The stock had a trading volume of 375,186 shares, compared to its average volume of 276,734. The company has a debt-to-equity ratio of 1.75, a current ratio of 3.45 and a quick ratio of 3.45. The company has a market capitalization of $456.00 million, a P/E ratio of 11.76, a PEG ratio of 1.27 and a beta of 0.16. City Office REIT has a one year low of $10.03 and a one year high of $13.47.

City Office REIT (NYSE:CIO) last released its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.32). The firm had revenue of $30.24 million during the quarter, compared to the consensus estimate of $31.09 million. City Office REIT had a net margin of 36.89% and a return on equity of 17.42%. On average, analysts anticipate that City Office REIT will post 1.1 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in City Office REIT by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 199,191 shares of the real estate investment trust’s stock valued at $2,556,000 after buying an additional 28,569 shares during the last quarter. American Century Companies Inc. purchased a new stake in City Office REIT in the second quarter valued at approximately $2,521,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in City Office REIT in the second quarter valued at approximately $3,079,000. BlackRock Inc. boosted its position in City Office REIT by 16.5% in the first quarter. BlackRock Inc. now owns 1,811,738 shares of the real estate investment trust’s stock valued at $20,944,000 after buying an additional 256,981 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in City Office REIT in the first quarter valued at approximately $281,000. Institutional investors and hedge funds own 69.23% of the company’s stock.

City Office REIT Company Profile

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At June 30, 2018, CIO owned office complexes comprising 4.9 million square feet of net rentable area (?NRA?).

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Analyst Recommendations for City Office REIT (NYSE:CIO)

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