Wedbush Securities Inc. reduced its stake in shares of City Office REIT, Inc. (NYSE:CIO) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,758 shares of the real estate investment trust’s stock after selling 800 shares during the period. Wedbush Securities Inc.’s holdings in City Office REIT were worth $365,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of City Office REIT by 28.6% in the first quarter. Principal Financial Group Inc. now owns 987,936 shares of the real estate investment trust’s stock valued at $12,003,000 after buying an additional 220,000 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of City Office REIT by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,112 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 45 shares in the last quarter. Northpointe Capital LLC boosted its position in shares of City Office REIT by 2.1% in the first quarter. Northpointe Capital LLC now owns 272,273 shares of the real estate investment trust’s stock valued at $3,308,000 after buying an additional 5,597 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of City Office REIT by 21.1% in the first quarter. Nationwide Fund Advisors now owns 15,489 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 2,699 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of City Office REIT by 38.2% in the first quarter. Janney Montgomery Scott LLC now owns 196,867 shares of the real estate investment trust’s stock valued at $2,392,000 after buying an additional 54,447 shares in the last quarter. 53.03% of the stock is owned by institutional investors.

City Office REIT, Inc. (CIO) opened at 12.44 on Friday. The firm has a 50-day moving average of $12.57 and a 200 day moving average of $12.50. City Office REIT, Inc. has a 12 month low of $11.43 and a 12 month high of $13.55. The stock’s market cap is $376.46 million.

City Office REIT (NYSE:CIO) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. City Office REIT had a net margin of 3.70% and a return on equity of 1.91%. The company had revenue of $25.16 million during the quarter, compared to the consensus estimate of $26.18 million. During the same period in the previous year, the firm earned $0.22 earnings per share. Analysts anticipate that City Office REIT, Inc. will post ($0.10) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th were paid a dividend of $0.235 per share. The ex-dividend date was Friday, July 7th. This represents a $0.94 annualized dividend and a yield of 7.56%. City Office REIT’s dividend payout ratio is currently -723.08%.

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CIO has been the subject of several recent research reports. Zacks Investment Research raised shares of City Office REIT from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Monday, May 8th. FBR & Co initiated coverage on shares of City Office REIT in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $14.50 price target for the company. Deutsche Bank AG raised their price target on shares of City Office REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. ValuEngine cut shares of City Office REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, TheStreet raised shares of City Office REIT from a “d” rating to a “c” rating in a research report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. City Office REIT has an average rating of “Hold” and an average target price of $14.63.

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

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