Deutsche Bank Aktiengesellschaft Lowers City Office REIT (NYSE:CIO) Price Target to $18.00

City Office REIT (NYSE:CIOGet Rating) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $23.00 to $18.00 in a report released on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 10.29% from the company’s previous close.

Several other research firms also recently issued reports on CIO. StockNews.com assumed coverage on City Office REIT in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded City Office REIT from a “strong-buy” rating to a “hold” rating in a report on Monday, March 7th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, City Office REIT presently has an average rating of “Hold” and an average target price of $18.17.

NYSE:CIO opened at $16.32 on Thursday. City Office REIT has a 52 week low of $10.48 and a 52 week high of $21.70. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $710.74 million, a P/E ratio of 1.51, a P/E/G ratio of 1.80 and a beta of 1.59. The stock’s fifty day moving average is $17.31 and its two-hundred day moving average is $18.08.

City Office REIT (NYSE:CIOGet Rating) last posted its earnings results on Thursday, February 24th. The real estate investment trust reported $9.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $9.46. City Office REIT had a return on equity of 108.72% and a net margin of 295.29%. During the same period in the prior year, the company earned $0.32 EPS. Sell-side analysts anticipate that City Office REIT will post 1.49 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. grew its stake in City Office REIT by 46.2% during the 3rd quarter. Macquarie Group Ltd. now owns 137,000 shares of the real estate investment trust’s stock worth $2,447,000 after purchasing an additional 43,300 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in City Office REIT by 69.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 123,364 shares of the real estate investment trust’s stock worth $2,433,000 after purchasing an additional 50,547 shares in the last quarter. US Bancorp DE grew its stake in City Office REIT by 79.2% during the 3rd quarter. US Bancorp DE now owns 2,618 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 1,157 shares in the last quarter. Millennium Management LLC grew its stake in City Office REIT by 1,745.9% during the 3rd quarter. Millennium Management LLC now owns 206,555 shares of the real estate investment trust’s stock worth $3,689,000 after purchasing an additional 195,365 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in City Office REIT during the 4th quarter worth $357,000. 73.56% of the stock is owned by hedge funds and other institutional investors.

City Office REIT Company Profile (Get Rating)

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2020, CIO owned office complexes comprising 5.8 million square feet of net rentable area (NRA).

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