JMP Securities began coverage on shares of City Office REIT (NYSE:CIO) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $14.00 target price on the real estate investment trust’s stock.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded City Office REIT from a buy rating to a hold rating in a report on Monday, September 3rd. Boenning Scattergood set a $15.00 price objective on City Office REIT and gave the stock a buy rating in a report on Friday, August 3rd. B. Riley lifted their price objective on City Office REIT from $13.50 to $14.00 and gave the stock a buy rating in a report on Monday, August 6th. Finally, Royal Bank of Canada assumed coverage on City Office REIT in a report on Wednesday, June 27th. They issued an outperform rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. City Office REIT presently has a consensus rating of Hold and a consensus price target of $14.17.

CIO opened at $11.41 on Tuesday. The stock has a market capitalization of $456.00 million, a PE ratio of 11.76, a P/E/G ratio of 1.27 and a beta of 0.16. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 1.75. City Office REIT has a 12 month low of $10.03 and a 12 month 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) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.32). The company had revenue of $30.24 million during the quarter, compared to analysts’ expectations of $31.09 million. City Office REIT had a return on equity of 17.42% and a net margin of 36.89%. On average, analysts predict that City Office REIT will post 1.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Thursday, October 11th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Wednesday, October 10th. This represents a $0.94 annualized dividend and a dividend yield of 8.24%. City Office REIT’s payout ratio is presently 96.91%.

Several hedge funds and other institutional investors have recently bought and sold shares of CIO. Schwab Charles Investment Management Inc. grew its stake in shares of City Office REIT by 23.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 64,180 shares of the real estate investment trust’s stock worth $742,000 after purchasing an additional 12,000 shares during the last quarter. Northern Trust Corp grew its stake in shares of City Office REIT by 16.6% in the first quarter. Northern Trust Corp now owns 359,561 shares of the real estate investment trust’s stock worth $4,156,000 after purchasing an additional 51,108 shares during the last quarter. BlackRock Inc. grew its stake in shares of 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 worth $20,944,000 after purchasing an additional 256,981 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of City Office REIT by 12.7% in the first quarter. Dimensional Fund Advisors LP now owns 354,538 shares of the real estate investment trust’s stock worth $4,098,000 after purchasing an additional 39,898 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of City Office REIT by 29.6% in the first quarter. Asset Management One Co. Ltd. now owns 73,769 shares of the real estate investment trust’s stock worth $853,000 after purchasing an additional 16,847 shares during the last quarter. 69.23% of the stock is currently owned by institutional investors.

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?).

Further Reading: Yield Curve

Analyst Recommendations for City Office REIT (NYSE:CIO)

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