City Office REIT Inc (NYSE:CIO) has been given a consensus rating of “Buy” by the eight analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $11.80.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised City Office REIT from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Thursday, July 16th. B. Riley upped their price target on shares of City Office REIT from $12.00 to $13.00 in a report on Wednesday, June 10th. Royal Bank of Canada decreased their price objective on shares of City Office REIT from $15.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Finally, TheStreet cut shares of City Office REIT from a “c-” rating to a “d+” rating in a research report on Wednesday, April 8th.
NYSE CIO opened at $8.65 on Tuesday. The company has a market cap of $411.50 million, a P/E ratio of 7.59 and a beta of 1.33. The business’s 50 day moving average price is $9.79 and its 200-day moving average price is $10.32. City Office REIT has a fifty-two week low of $6.50 and a fifty-two week high of $14.50. The company has a debt-to-equity ratio of 1.70, a quick ratio of 7.23 and a current ratio of 7.23.
City Office REIT (NYSE:CIO) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.27). The firm had revenue of $40.12 million during the quarter, compared to the consensus estimate of $39.35 million. City Office REIT had a return on equity of 1.01% and a net margin of 2.33%. As a group, equities analysts predict that City Office REIT will post 1.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend was Thursday, July 9th. City Office REIT’s payout ratio is 51.28%.
Several large investors have recently bought and sold shares of CIO. FMR LLC bought a new position in shares of City Office REIT during the first quarter valued at approximately $31,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in City Office REIT by 48.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,053 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,000 shares during the period. Advisor Group Holdings Inc. bought a new stake in City Office REIT during the 1st quarter valued at $82,000. Keebeck Alpha LP purchased a new position in shares of City Office REIT in the 1st quarter valued at $86,000. Finally, Hancock Whitney Corp raised its position in shares of City Office REIT by 20.8% in the 1st quarter. Hancock Whitney Corp now owns 12,762 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 2,201 shares in the last quarter. Institutional investors and hedge funds own 89.34% of the company’s stock.
City Office REIT Company 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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