City Office REIT (CIO) Receiving Somewhat Positive News Coverage, Study Finds
Media headlines about City Office REIT (NYSE:CIO) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. City Office REIT earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned headlines about the real estate investment trust an impact score of 45.3133091673617 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Several research firms recently commented on CIO. ValuEngine downgraded City Office REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research downgraded City Office REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. TheStreet upgraded City Office REIT from a “d” rating to a “c” rating in a report on Thursday, May 18th. FBR & Co initiated coverage on City Office REIT in a report on Tuesday, July 11th. They issued an “outperform” rating and a $14.50 target price for the company. Finally, BidaskClub upgraded City Office REIT from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. City Office REIT currently has a consensus rating of “Hold” and an average target price of $14.63.
Shares of City Office REIT (NYSE CIO) traded up 0.39% during mid-day trading on Wednesday, reaching $12.82. The company’s stock had a trading volume of 101,828 shares. City Office REIT has a 1-year low of $11.43 and a 1-year high of $13.55. The firm’s market capitalization is $387.96 million. The company’s 50-day moving average is $12.59 and its 200 day moving average is $12.46.
City Office REIT (NYSE:CIO) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The firm had revenue of $25.16 million during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.22 earnings per share. On average, analysts expect that City Office REIT will post ($0.21) earnings per share for the current year.
In related news, CEO James Thomas Farrar bought 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $12.52 per share, with a total value of $75,120.00. Following the completion of the transaction, the chief executive officer now directly owns 184,789 shares of the company’s stock, valued at $2,313,558.28. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.
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About City Office REIT
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.
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