ValuEngine upgraded shares of City Office REIT (NYSE:CIO) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered City Office REIT from a hold rating to a sell rating in a report on Tuesday. Boenning Scattergood set a $15.00 price objective on City Office REIT and gave the company a buy rating in a report on Monday, November 5th. TheStreet lowered City Office REIT from a b- rating to a c+ rating in a report on Thursday, October 11th. Finally, JMP Securities assumed coverage on City Office REIT in a report on Tuesday, October 9th. They issued an outperform rating and a $14.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $14.17.

Shares of NYSE:CIO opened at $10.97 on Wednesday. City Office REIT has a 1 year low of $10.03 and a 1 year high of $13.37. The company has a market cap of $447.24 million, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.17 and a beta of 0.33. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.54 and a current ratio of 2.54.

City Office REIT (NYSE:CIO) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $33.55 million for the quarter, compared to analyst estimates of $33.16 million. City Office REIT had a return on equity of 15.81% and a net margin of 34.71%. Sell-side analysts expect that City Office REIT will post 1.07 EPS for the current fiscal year.

In related news, Director Stephen B. Shraiberg purchased 35,000 shares of City Office REIT stock in a transaction dated Monday, November 5th. The shares were acquired at an average price of $10.79 per share, for a total transaction of $377,650.00. Following the acquisition, the director now directly owns 84,185 shares in the company, valued at $908,356.15. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RMR Advisors LLC raised its holdings in shares of City Office REIT by 2.0% during the 3rd quarter. RMR Advisors LLC now owns 228,427 shares of the real estate investment trust’s stock worth $2,883,000 after acquiring an additional 4,500 shares during the period. Teachers Insurance & Annuity Association of America raised its holdings in shares of City Office REIT by 10.6% during the 2nd quarter. Teachers Insurance & Annuity Association of America now owns 47,817 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 4,593 shares during the period. Rhumbline Advisers raised its holdings in shares of City Office REIT by 15.3% during the 2nd quarter. Rhumbline Advisers now owns 40,236 shares of the real estate investment trust’s stock worth $516,000 after acquiring an additional 5,348 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of City Office REIT by 22.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 36,503 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 6,700 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in shares of City Office REIT by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 646,066 shares of the real estate investment trust’s stock worth $8,153,000 after acquiring an additional 7,039 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

City Office REIT Company Profile

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2018, CIO owned office complexes comprising 5.3 million square feet of net rentable area (“NRA”).

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Analyst Recommendations for City Office REIT (NYSE:CIO)

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