City Office REIT, Inc. (NYSE:CIO) has received a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.75.
A number of analysts have weighed in on the stock. BidaskClub raised shares of City Office REIT from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of City Office REIT from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. B. Riley restated a “buy” rating and set a $14.50 price target on shares of City Office REIT in a research report on Tuesday, November 7th. Finally, FBR & Co restated a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th.
Shares of City Office REIT (NYSE CIO) traded up $0.08 during trading hours on Friday, hitting $13.08. 60,375 shares of the company’s stock were exchanged, compared to its average volume of 131,355. The firm has a market capitalization of $395.83, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.22. City Office REIT has a 52 week low of $11.43 and a 52 week 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.
In other news, CEO James Thomas Farrar purchased 6,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average price of $12.52 per share, for a total transaction of $75,120.00. Following the completion of the transaction, the chief executive officer now owns 184,789 shares of the company’s stock, valued at $2,313,558.28. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of City Office REIT during the third quarter worth about $1,935,000. Keeley Teton Advisors LLC grew its position in shares of City Office REIT by 11.5% during the third quarter. Keeley Teton Advisors LLC now owns 223,889 shares of the real estate investment trust’s stock worth $3,083,000 after acquiring an additional 23,155 shares during the last quarter. Lido Advisors LLC bought a new position in shares of City Office REIT during the third quarter worth about $593,000. Dimensional Fund Advisors LP grew its position in City Office REIT by 5.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 280,216 shares of the real estate investment trust’s stock valued at $3,859,000 after buying an additional 14,892 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in City Office REIT by 7.0% in the 3rd quarter. D.A. Davidson & CO. now owns 598,669 shares of the real estate investment trust’s stock valued at $8,243,000 after buying an additional 38,950 shares in the last quarter. Institutional investors and hedge funds own 55.64% of the company’s stock.
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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