Northern Trust Corp increased its position in shares of City Office REIT, Inc. (NYSE:CIO) by 11.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 316,114 shares of the real estate investment trust’s stock after buying an additional 31,717 shares during the quarter. Northern Trust Corp owned about 1.04% of City Office REIT worth $4,015,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CIO. Dimensional Fund Advisors LP grew its stake in shares of City Office REIT by 114.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 213,261 shares of the real estate investment trust’s stock valued at $2,591,000 after purchasing an additional 113,742 shares during the last quarter. First Heartland Consultants Inc. purchased a new position in shares of City Office REIT in the 2nd quarter valued at approximately $575,000. Principal Financial Group Inc. grew its stake in shares of City Office REIT by 6.5% in the 2nd 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 during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of City Office REIT in the 1st quarter valued at approximately $148,000. Finally, Vanguard Group Inc. grew its stake in shares of City Office REIT by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 1,037,380 shares of the real estate investment trust’s stock valued at $12,605,000 after purchasing an additional 162,735 shares during the last quarter. Hedge funds and other institutional investors own 55.64% of the company’s stock.

In other City Office REIT news, CEO James Thomas Farrar purchased 6,000 shares of City Office REIT stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average cost of $12.52 per share, with a total value of $75,120.00. Following the acquisition, the chief executive officer now directly owns 184,789 shares of the company’s stock, valued at $2,313,558.28. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by company insiders.

Shares of City Office REIT, Inc. (NYSE:CIO) opened at $12.91 on Tuesday. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.80. The company has a market capitalization of $387.05, a P/E ratio of 14.37, a PEG ratio of 1.49 and a beta of 0.22. City Office REIT, Inc. has a 1-year low of $11.43 and a 1-year high of $13.93.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders 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 dividend yield of 7.28%. City Office REIT’s dividend payout ratio is currently -552.94%.

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Several brokerages have weighed in on CIO. ValuEngine upgraded City Office REIT from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research downgraded City Office REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. FBR & Co reiterated a “buy” rating on shares of City Office REIT in a research note on Friday, October 6th. BidaskClub upgraded City Office REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, B. Riley reiterated a “buy” rating and issued a $14.50 target price on shares of City Office REIT in a research note on Tuesday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $14.50.

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.

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

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