Hancock Whitney Corp purchased a new position in City Office REIT Inc (NYSE:CIO) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 10,561 shares of the real estate investment trust’s stock, valued at approximately $152,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Phocas Financial Corp. purchased a new stake in shares of City Office REIT in the second quarter worth approximately $25,000. FMR LLC purchased a new stake in shares of City Office REIT in the first quarter worth approximately $31,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of City Office REIT by 31.9% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 2,000 shares during the period. Wiley BROS. Aintree Capital LLC purchased a new stake in shares of City Office REIT in the third quarter worth approximately $126,000. Finally, WINTON GROUP Ltd raised its holdings in shares of City Office REIT by 12.7% in the second quarter. WINTON GROUP Ltd now owns 12,236 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 1,378 shares during the period. Hedge funds and other institutional investors own 60.58% of the company’s stock.
Several brokerages have recently weighed in on CIO. Zacks Investment Research downgraded City Office REIT from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JMP Securities increased their price target on City Office REIT from $14.00 to $15.00 and gave the stock a “market outperform” rating in a report on Thursday, September 12th. Finally, B. Riley increased their price target on City Office REIT from $12.50 to $13.50 and gave the stock a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.
CIO opened at $13.40 on Thursday. The stock’s fifty day moving average is $13.75 and its two-hundred day moving average is $12.72. The company has a market capitalization of $733.11 million, a P/E ratio of 11.39, a PEG ratio of 1.43 and a beta of 0.44. City Office REIT Inc has a 52 week low of $9.73 and a 52 week high of $14.50. The company has a quick ratio of 2.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.83.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.94 annualized dividend and a yield of 7.01%. City Office REIT’s payout ratio is currently 87.04%.
City Office REIT Profile
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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