City Office REIT (CIO) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of City Office REIT (NYSE:CIO) from a buy rating to a hold rating in a research report sent to investors on Wednesday, April 11th.

A number of other research analysts also recently weighed in on CIO. Zacks Investment Research upgraded City Office REIT from a sell rating to a hold rating in a report on Monday, March 12th. B. Riley set a $14.00 target price on City Office REIT and gave the company a buy rating in a research note on Friday, March 2nd. Finally, Deutsche Bank downgraded City Office REIT from a buy rating to a hold rating and decreased their price target for the stock from $16.00 to $13.00 in a research note on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $14.13.

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Shares of CIO opened at $11.34 on Wednesday. City Office REIT has a 52 week low of $10.03 and a 52 week high of $13.93. The company has a market capitalization of $416.80, a PE ratio of 11.90, a PEG ratio of 1.19 and a beta of 0.12. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 1.98.

City Office REIT (NYSE:CIO) last announced its earnings results on Thursday, March 1st. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.36). The business had revenue of $31.18 million for the quarter, compared to the consensus estimate of $29.26 million. City Office REIT had a net margin of 5.41% and a return on equity of 2.74%. The firm’s revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. equities analysts expect that City Office REIT will post 1.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Wednesday, April 11th will be given a dividend of $0.235 per share. The ex-dividend date is Tuesday, April 10th. This represents a $0.94 dividend on an annualized basis and a yield of 8.29%. City Office REIT’s dividend payout ratio (DPR) is presently 96.91%.

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

In other City Office REIT news, Director Stephen B. Shraiberg purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were acquired at an average cost of $11.05 per share, for a total transaction of $110,500.00. Following the transaction, the director now directly owns 71,681 shares in the company, valued at $792,075.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of CIO. SG Americas Securities LLC acquired a new position in shares of City Office REIT in the 3rd quarter valued at $121,000. Jefferies Group LLC acquired a new stake in City Office REIT during the 4th quarter worth $185,000. Schroder Investment Management Group acquired a new stake in City Office REIT during the 4th quarter worth $188,000. MetLife Investment Advisors LLC acquired a new stake in City Office REIT during the 4th quarter worth $193,000. Finally, Rational Advisors LLC acquired a new stake in City Office REIT during the 4th quarter worth $260,000. 64.34% of the stock is currently owned by institutional investors.

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About City Office REIT

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 December 31, 2017, CIO owned office complexes comprising 5.2 million square feet of net rentable area (?NRA?).

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