City Office REIT (CIO) Given Coverage Optimism Rating of 0.17
Media coverage about City Office REIT (NYSE:CIO) has been trending somewhat positive on Wednesday, Accern Sentiment Analysis reports. Accern identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. City Office REIT earned a news sentiment score of 0.17 on Accern’s scale. Accern also gave news headlines about the real estate investment trust an impact score of 46.0881420250301 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the headlines that may have impacted Accern’s rankings:
- Avenue Report: Sixth Avenue Repeats As Top Location For Manhattan’s Largest Office Leases (bizjournals.com)
- Blog Exposure – City Office REIT Completes Sale of Office Property, Washington Group Plaza (finance.yahoo.com)
- City Office REIT Sells Expansive Idaho Property for $86.5M (law360.com)
- City Office REIT Inc (CIO) Director Stephen B. Shraiberg Buys 10,000 Shares (americanbankingnews.com)
- City Office REIT (CIO) Stock Rating Upgraded by Zacks Investment Research (americanbankingnews.com)
City Office REIT (NYSE:CIO) opened at $11.59 on Wednesday. City Office REIT has a fifty-two week low of $10.03 and a fifty-two week high of $13.93. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $411.75, a price-to-earnings ratio of -231.80, a PEG ratio of 1.16 and a beta of 0.27.
City Office REIT declared that its board has approved a stock repurchase program on Thursday, March 1st that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have issued reports on CIO shares. Zacks Investment Research raised shares of City Office REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine raised shares of City Office REIT from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Deutsche Bank cut shares of City Office REIT from a “buy” rating to a “hold” rating and lowered their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, January 10th. Finally, B. Riley set a $14.00 target price on shares of City Office REIT and gave the stock a “buy” rating in a research note on Friday, March 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. City Office REIT has a consensus rating of “Hold” and an average target price of $14.13.
In related news, Director Stephen B. Shraiberg purchased 10,000 shares of City Office REIT stock in a transaction dated Thursday, March 8th. The shares were acquired at an average price of $11.05 per share, for a total transaction of $110,500.00. Following the acquisition, the director now directly owns 71,681 shares in the company, valued at $792,075.05. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is owned by insiders.
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City Office REIT Company Profile
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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