Equities research analysts at FBR & Co started coverage on shares of City Office REIT Inc (NYSE:CIO) in a research note issued on Tuesday, July 11th, Marketbeat Ratings reports. The firm set an “outperform” rating and a $14.50 price target on the real estate investment trust’s stock. FBR & Co’s target price points to a potential upside of 15.08% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. ValuEngine cut shares of City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Deutsche Bank AG increased their target price on shares of City Office REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. TheStreet upgraded shares of City Office REIT from a “d” rating to a “c” rating in a report on Thursday, May 18th. Finally, Zacks Investment Research cut shares of City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.63.

City Office REIT (CIO) traded up 0.48% during midday trading on Tuesday, reaching $12.60. 111,635 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $12.63 and its 200 day moving average is $12.51. The stock has a market cap of $381.24 million, a P/E ratio of 262.50 and a beta of 0.22. City Office REIT has a 1-year low of $11.43 and a 1-year high of $13.62.

City Office REIT (NYSE:CIO) last released 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 analysts’ expectations of $26.18 million. City Office REIT had a net margin of 52.34% and a return on equity of 16.50%. During the same quarter in the prior year, the company earned $0.22 earnings per share. Equities analysts anticipate that City Office REIT will post ($0.31) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “City Office REIT Inc (NYSE:CIO) Receives New Coverage from Analysts at FBR & Co” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/07/city-office-reit-inc-nysecio-coverage-initiated-at-fbr-co-updated-updated-updated.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in CIO. Dalton Greiner Hartman Maher & Co. purchased a new stake in City Office REIT during the first quarter valued at about $164,000. Orinda Asset Management LLC raised its stake in City Office REIT by 47.4% in the first quarter. Orinda Asset Management LLC now owns 613,653 shares of the real estate investment trust’s stock valued at $7,456,000 after buying an additional 197,271 shares during the period. Legato Capital Management LLC raised its stake in City Office REIT by 1,115.0% in the first quarter. Legato Capital Management LLC now owns 36,754 shares of the real estate investment trust’s stock valued at $3,025,000 after buying an additional 33,729 shares during the period. Macquarie Group Ltd. raised its stake in City Office REIT by 304.9% in the fourth quarter. Macquarie Group Ltd. now owns 41,300 shares of the real estate investment trust’s stock valued at $544,000 after buying an additional 31,100 shares during the period. Finally, Teachers Advisors LLC raised its stake in City Office REIT by 29.5% in the fourth quarter. Teachers Advisors LLC now owns 41,984 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 9,553 shares during the period. Institutional investors and hedge funds own 53.35% of the company’s stock.

City Office REIT Company 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.

Receive News & Stock Ratings for City Office REIT Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Office REIT Inc and related stocks with our FREE daily email newsletter.