Millennium Management LLC boosted its stake in shares of City Office REIT Inc (NYSE:CIO) by 499.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,426 shares of the real estate investment trust’s stock after buying an additional 253,606 shares during the quarter. Millennium Management LLC owned approximately 0.56% of City Office REIT worth $4,380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Phocas Financial Corp. acquired a new position in shares of City Office REIT in the 2nd quarter valued at about $25,000. FMR LLC acquired a new position in shares of City Office REIT in the 1st quarter valued at about $31,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of City Office REIT by 31.9% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 2,000 shares during the period. Wiley BROS. Aintree Capital LLC acquired a new position in shares of City Office REIT in the 3rd quarter valued at about $126,000. Finally, Hancock Whitney Corp acquired a new position in shares of City Office REIT in the 3rd quarter valued at about $152,000. 67.60% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on CIO. ValuEngine downgraded City Office REIT from a “hold” rating to a “sell” rating in a research note on Thursday. JMP Securities boosted their price objective on City Office REIT from $14.00 to $15.00 and gave the company a “market outperform” rating in a research note on Thursday, September 12th. Finally, Zacks Investment Research raised City Office REIT from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $14.00.

Shares of NYSE:CIO opened at $12.51 on Friday. The company has a market capitalization of $682.38 million, a price-to-earnings ratio of 11.58 and a beta of 0.44. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.26 and a quick ratio of 2.26. The business’s 50-day moving average is $13.30 and its 200-day moving average is $13.00. City Office REIT Inc has a 1 year low of $9.73 and a 1 year high of $14.50.

About City Office REIT

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

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