Real Estate Management Services LLC Has $9.23 Million Stake in City Office REIT, Inc. (CIO)

Real Estate Management Services LLC grew its stake in City Office REIT, Inc. (NYSE:CIO) by 38.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 670,343 shares of the real estate investment trust’s stock after purchasing an additional 185,016 shares during the period. City Office REIT makes up about 1.9% of Real Estate Management Services LLC’s holdings, making the stock its 22nd largest holding. Real Estate Management Services LLC owned approximately 2.22% of City Office REIT worth $9,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its position in shares of City Office REIT by 63.2% in the first quarter. Nuveen Asset Management LLC now owns 1,364,636 shares of the real estate investment trust’s stock valued at $16,580,000 after purchasing an additional 528,290 shares in the last quarter. Vanguard Group Inc. grew its position in shares of City Office REIT by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,093,747 shares of the real estate investment trust’s stock valued at $13,891,000 after purchasing an additional 56,367 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of City Office REIT by 6.5% in the second quarter. Principal Financial Group Inc. now owns 1,052,036 shares of the real estate investment trust’s stock valued at $13,361,000 after purchasing an additional 64,100 shares in the last quarter. LSV Asset Management grew its position in shares of City Office REIT by 25.8% in the second quarter. LSV Asset Management now owns 843,506 shares of the real estate investment trust’s stock valued at $10,712,000 after purchasing an additional 172,841 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of City Office REIT by 21.8% in the first quarter. Renaissance Technologies LLC now owns 611,900 shares of the real estate investment trust’s stock valued at $7,435,000 after purchasing an additional 109,501 shares in the last quarter. Institutional investors and hedge funds own 55.20% of the company’s stock.

City Office REIT, Inc. (NYSE CIO) traded down 1.30% during midday trading on Monday, hitting $12.93. The stock had a trading volume of 33,309 shares. The stock has a 50-day moving average price of $13.29 and a 200 day moving average price of $12.72. The firm’s market cap is $391.29 million. City Office REIT, Inc. has a 12-month low of $11.43 and a 12-month high of $13.93.

City Office REIT (NYSE:CIO) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The company had revenue of $25.16 million during the quarter, compared to the consensus estimate of $26.18 million. City Office REIT had a return on equity of 1.91% and a net margin of 3.70%. During the same period in the previous year, the firm posted $0.22 EPS. On average, equities analysts anticipate that City Office REIT, Inc. will post ($0.17) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th were issued a $0.235 dividend. The ex-dividend date of this dividend was Tuesday, October 10th. This represents a $0.94 annualized dividend and a yield of 7.18%. City Office REIT’s dividend payout ratio (DPR) is presently -723.08%.

In other City Office REIT news, CEO James Thomas Farrar purchased 6,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was bought at an average cost of $12.52 per share, for a total transaction of $75,120.00. Following the acquisition, the chief executive officer now owns 184,789 shares of the company’s stock, valued at approximately $2,313,558.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

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A number of research firms have recently issued reports on CIO. FBR & Co restated a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. ValuEngine upgraded City Office REIT from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. BidaskClub upgraded City Office REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research lowered City Office REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. City Office REIT currently has an average rating of “Hold” and a consensus target price of $14.63.

City Office REIT 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.

Institutional Ownership by Quarter for City Office REIT (NYSE:CIO)

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