City Office REIT Inc (NYSE:CIO) Director John Sweet purchased 2,000 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were acquired at an average price of $11.45 per share, with a total value of $22,900.00. Following the completion of the transaction, the director now owns 3,867 shares of the company’s stock, valued at $44,277.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

City Office REIT stock traded up $0.01 during trading on Thursday, hitting $11.41. 251,421 shares of the stock were exchanged, compared to its average volume of 297,606. 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 stock has a market capitalization of $416.44, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.18 and a beta of 0.27. City Office REIT Inc has a one year low of $10.03 and a one year high of $13.93.

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City Office REIT (NYSE:CIO) last posted its earnings results on Thursday, March 1st. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.36). The firm had revenue of $31.18 million for the quarter, compared to analysts’ expectations of $29.26 million. City Office REIT had a return on equity of 2.74% and a net margin of 5.41%. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. sell-side analysts anticipate that City Office REIT Inc will post 1.09 earnings per share for the current year.

City Office REIT announced that its board has authorized a share buyback program on Thursday, March 1st that permits the company to buyback $40.00 million in shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Several institutional investors have recently bought and sold shares of CIO. SG Americas Securities LLC purchased a new stake in City Office REIT in the third quarter worth about $121,000. Stevens Capital Management LP purchased a new stake in City Office REIT in the third quarter worth about $180,000. Jefferies Group LLC purchased a new stake in City Office REIT in the fourth quarter worth about $185,000. Schroder Investment Management Group purchased a new stake in City Office REIT in the fourth quarter worth about $188,000. Finally, MetLife Investment Advisors LLC purchased a new stake in City Office REIT in the fourth quarter worth about $193,000. Institutional investors own 63.34% of the company’s stock.

A number of research firms have recently weighed in on CIO. Zacks Investment Research upgraded shares of City Office REIT from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday, January 2nd. ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a report on Friday, December 1st. B. Riley set a $14.00 target price on shares of City Office REIT and gave the stock a “buy” rating in a report on Friday, March 2nd. Finally, Deutsche Bank lowered shares of City Office REIT from a “buy” rating to a “hold” rating and dropped their target price for the stock from $16.00 to $13.00 in a report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $14.13.

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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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