City Office REIT Inc. (CIO) Sees Strong Trading Volume
City Office REIT Inc. (NYSE:CIO) saw an uptick in trading volume on Wednesday . 124,962 shares were traded during trading, a decline of 6% from the previous session’s volume of 132,501 shares.The stock last traded at $12.98 and had previously closed at $12.98.
Several brokerages have commented on CIO. Zacks Investment Research raised City Office REIT from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Tuesday, July 19th. Deutsche Bank AG began coverage on City Office REIT in a research report on Tuesday, May 31st. They set a “buy” rating and a $14.00 price objective for the company. Compass Point reissued a “buy” rating and set a $13.00 price objective (up previously from $12.50) on shares of City Office REIT in a research report on Thursday, May 12th. Finally, Wunderlich raised their price objective on City Office REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $14.90.
The stock has a 50-day moving average of $13.37 and a 200-day moving average of $12.24.
City Office REIT (NYSE:CIO) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.33. The company had revenue of $16.10 million for the quarter, compared to analysts’ expectations of $16.16 million. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, analysts anticipate that City Office REIT Inc. will post $0.01 EPS for the current fiscal year.
City Office REIT, Inc is focused on acquiring, owning and operating Class A and B office properties located within its target markets in the United States. The Company operates in the office properties segment. The Company has over 10 primary target markets, which are located in metropolitan areas in the Southern and Western United States.
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