Shares of City Office REIT Inc (NYSE:CIO) have received a consensus rating of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $14.00.

A number of research analysts recently issued reports on the company. Raymond James raised City Office REIT from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a report on Tuesday, January 7th. Zacks Investment Research raised City Office REIT from a “strong sell” rating to a “hold” rating in a report on Monday, January 6th. Finally, ValuEngine raised City Office REIT from a “sell” rating to a “hold” rating in a report on Friday, January 10th.

Several institutional investors have recently bought and sold shares of CIO. Vanguard Group Inc. grew its position in shares of City Office REIT by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,075,233 shares of the real estate investment trust’s stock valued at $48,862,000 after purchasing an additional 89,205 shares during the period. BlackRock Inc. grew its position in shares of City Office REIT by 10.2% in the 2nd quarter. BlackRock Inc. now owns 2,984,736 shares of the real estate investment trust’s stock valued at $35,787,000 after purchasing an additional 275,354 shares during the period. Renaissance Technologies LLC grew its position in shares of City Office REIT by 6.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,839,796 shares of the real estate investment trust’s stock valued at $22,059,000 after purchasing an additional 111,100 shares during the period. State Street Corp grew its position in shares of City Office REIT by 4.5% in the 3rd quarter. State Street Corp now owns 1,040,921 shares of the real estate investment trust’s stock valued at $14,979,000 after purchasing an additional 44,846 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of City Office REIT by 33.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 914,554 shares of the real estate investment trust’s stock valued at $10,965,000 after purchasing an additional 226,921 shares during the period. Institutional investors own 67.62% of the company’s stock.

Shares of City Office REIT stock traded up $0.15 during trading on Friday, reaching $13.91. The company’s stock had a trading volume of 261,900 shares, compared to its average volume of 369,400. The stock has a 50-day moving average price of $13.24 and a two-hundred day moving average price of $13.21. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 1.83. City Office REIT has a one year low of $10.72 and a one year high of $14.50. The stock has a market capitalization of $743.52 million, a P/E ratio of 12.88 and a beta of 0.43.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.235 per share. The ex-dividend date is Thursday, January 9th. This represents a $0.94 annualized dividend and a dividend yield of 6.76%. City Office REIT’s payout ratio is currently 87.04%.

About City Office REIT

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2018, CIO owned office complexes comprising 5.7 million square feet of net rentable area (“NRA”).

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Analyst Recommendations for City Office REIT (NYSE:CIO)

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