City Office REIT Inc (NYSE:CIO) CFO Acquires $71,600.00 in Stock

City Office REIT Inc (NYSE:CIO) CFO Anthony Maretic acquired 10,000 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $7.16 per share, for a total transaction of $71,600.00.

Shares of NYSE:CIO traded down $0.36 during trading on Wednesday, hitting $7.07. The company had a trading volume of 338,971 shares, compared to its average volume of 503,438. The stock has a market cap of $306.82 million, a price-to-earnings ratio of -70.70 and a beta of 1.15. The company has a debt-to-equity ratio of 2.14, a current ratio of 4.12 and a quick ratio of 4.12. The company has a fifty day simple moving average of $8.31 and a two-hundred day simple moving average of $8.93. City Office REIT Inc has a one year low of $6.50 and a one year high of $14.50.

City Office REIT (NYSE:CIO) last released its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.29). City Office REIT had a net margin of 1.90% and a return on equity of 0.78%. On average, equities research analysts anticipate that City Office REIT Inc will post 1.09 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 8th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $0.60 annualized dividend and a dividend yield of 8.49%. City Office REIT’s dividend payout ratio (DPR) is presently 51.28%.

A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in City Office REIT by 20.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,350,733 shares of the real estate investment trust’s stock worth $9,766,000 after purchasing an additional 227,755 shares during the period. State Street Corp raised its holdings in shares of City Office REIT by 2.9% in the first quarter. State Street Corp now owns 1,319,066 shares of the real estate investment trust’s stock worth $9,537,000 after buying an additional 37,553 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of City Office REIT by 4.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,074,277 shares of the real estate investment trust’s stock worth $7,767,000 after acquiring an additional 41,498 shares during the last quarter. Geode Capital Management LLC boosted its holdings in City Office REIT by 12.1% during the 1st quarter. Geode Capital Management LLC now owns 783,561 shares of the real estate investment trust’s stock valued at $5,665,000 after acquiring an additional 84,350 shares during the period. Finally, Invesco Ltd. boosted its holdings in City Office REIT by 0.8% during the 1st quarter. Invesco Ltd. now owns 704,801 shares of the real estate investment trust’s stock valued at $5,096,000 after acquiring an additional 5,421 shares during the period. Institutional investors own 85.17% of the company’s stock.

A number of brokerages have issued reports on CIO. ValuEngine lowered City Office REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, September 11th. B. Riley upped their price objective on City Office REIT from $12.00 to $13.00 in a report on Wednesday, June 10th. Finally, Zacks Investment Research cut shares of City Office REIT from a “buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.25.

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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