City Office REIT (CIO) Stock Rating Upgraded by Zacks Investment Research

City Office REIT (NYSE:CIO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $15.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.37% from the company’s current price.

According to Zacks, “City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning, and operating office properties in the United States. The Company invests in properties located in metropolitan areas in the Southern and Western United States. City Office REIT, Inc. is based in Vancouver, Canada. “

Several other research firms have also recently weighed in on CIO. B. Riley restated a “buy” rating and issued a $14.50 price objective on shares of City Office REIT in a research report on Tuesday, November 7th. FBR & Co restated a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. Finally, ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. City Office REIT currently has an average rating of “Buy” and an average price target of $14.75.

City Office REIT (NYSE CIO) traded down $0.07 on Tuesday, reaching $12.89. 311,600 shares of the company’s stock traded hands, compared to its average volume of 294,350. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.80. The firm has a market cap of $466.72, a PE ratio of -75.82, a PEG ratio of 1.40 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.

Several large investors have recently modified their holdings of CIO. Teachers Advisors LLC grew its position in shares of City Office REIT by 35.5% during the 1st quarter. Teachers Advisors LLC now owns 56,893 shares of the real estate investment trust’s stock worth $691,000 after buying an additional 14,909 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of City Office REIT by 54.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 44,500 shares of the real estate investment trust’s stock worth $541,000 after buying an additional 15,700 shares during the period. Bank of America Corp DE grew its position in shares of City Office REIT by 189.0% during the 1st quarter. Bank of America Corp DE now owns 8,557 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 5,596 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of City Office REIT during the 2nd quarter worth approximately $560,000. Finally, Strs Ohio grew its position in shares of City Office REIT by 10.3% during the 2nd quarter. Strs Ohio now owns 8,600 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 800 shares during the period. Institutional investors own 49.30% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was originally reported by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://transcriptdaily.com/2018/01/04/city-office-reit-cio-stock-rating-upgraded-by-zacks-investment-research.html.

About City Office REIT

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.

Receive News & Ratings for City Office REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Office REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply