Shares of City Office REIT Inc. (NYSE:CIO) have been assigned a consensus recommendation of “Buy” from the six analysts that are covering the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.90.

CIO has been the topic of a number of recent research reports. Compass Point upped their price target on shares of City Office REIT from $13.00 to $14.50 and gave the company a “buy” rating in a research note on Friday, August 5th. Deutsche Bank AG reissued a “buy” rating and issued a $15.00 target price (up previously from $14.50) on shares of City Office REIT in a research note on Monday, July 18th. Zacks Investment Research downgraded shares of City Office REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. DA Davidson reissued a “buy” rating and issued a $15.00 target price on shares of City Office REIT in a research note on Tuesday, November 8th. Finally, Wunderlich increased their target price on shares of City Office REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 5th.

City Office REIT (NYSE:CIO) last released its quarterly earnings results on Monday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The company had revenue of $18.79 million for the quarter, compared to the consensus estimate of $7.98 million. City Office REIT had a net margin of 1.33% and a return on equity of 0.79%. City Office REIT’s revenue was up 28.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Investors of record on Tuesday, October 11th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 7.74%. The ex-dividend date was Thursday, October 6th. City Office REIT’s dividend payout ratio is presently -335.70%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Schnieders Capital Management LLC bought a new position in City Office REIT during the second quarter valued at approximately $133,000. American International Group Inc. bought a new position in City Office REIT during the second quarter valued at approximately $140,000. Nationwide Fund Advisors bought a new position in City Office REIT during the second quarter valued at approximately $154,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in City Office REIT by 4.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,966 shares of the company’s stock valued at $155,000 after buying an additional 552 shares in the last quarter. Finally, Royal Bank of Canada increased its position in City Office REIT by 163.8% in the second quarter. Royal Bank of Canada now owns 12,400 shares of the company’s stock valued at $161,000 after buying an additional 7,700 shares in the last quarter. 42.61% of the stock is currently owned by institutional investors.

About City Office REIT

City Office REIT, Inc is focused on acquiring, owning and operating Class A and B office properties located within its target markets in the United States. The Company operates in the office properties segment. The Company has over 10 primary target markets, which are located in metropolitan areas in the Southern and Western United States.

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