Versor Investments LP Takes $1.84 Million Position in City Office REIT, Inc. $CIO

Versor Investments LP bought a new position in City Office REIT, Inc. (NYSE:CIO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 264,979 shares of the real estate investment trust’s stock, valued at approximately $1,844,000. Versor Investments LP owned about 0.66% of City Office REIT at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in City Office REIT by 19.0% in the second quarter. The Manufacturers Life Insurance Company now owns 16,378 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 2,612 shares during the last quarter. Resona Asset Management Co. Ltd. raised its holdings in shares of City Office REIT by 16.1% in the third quarter. Resona Asset Management Co. Ltd. now owns 19,295 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 2,677 shares during the period. Wedbush Securities Inc. grew its position in City Office REIT by 8.3% in the 2nd quarter. Wedbush Securities Inc. now owns 39,000 shares of the real estate investment trust’s stock valued at $208,000 after acquiring an additional 3,000 shares during the last quarter. Russell Investments Group Ltd. grew its position in City Office REIT by 71.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,230 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 3,013 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in City Office REIT by 5.4% in the second quarter. Rhumbline Advisers now owns 68,988 shares of the real estate investment trust’s stock worth $368,000 after purchasing an additional 3,554 shares during the period. 67.47% of the stock is currently owned by institutional investors.

City Office REIT Trading Down 0.1%

Shares of NYSE CIO opened at $6.99 on Tuesday. City Office REIT, Inc. has a twelve month low of $4.19 and a twelve month high of $7.01. The firm has a market cap of $282.14 million, a PE ratio of -2.21 and a beta of 1.59. The business has a fifty day simple moving average of $6.97 and a two-hundred day simple moving average of $6.94. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.80.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of City Office REIT in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

City Office REIT Profile

City Office REIT, Inc (NYSE:CIO) is a publicly traded real estate investment trust focused on acquiring, managing and enhancing office and related properties in select Sun Belt and Southeastern U.S. markets. Established in 2017 through a spin-off from Shorenstein Properties, the company targets high-growth secondary markets offering favorable demographic trends, employment growth and constrained new office supply. Its strategy emphasizes well-located assets in metropolitan areas experiencing population inflows and corporate relocations.

The trust’s core business activities include property acquisition, leasing, asset management and value-add redevelopment initiatives.