City Office REIT (NYSE:CIO) Given New $20.00 Price Target at B. Riley

City Office REIT (NYSE:CIOGet Rating) had its price target dropped by equities research analysts at B. Riley from $22.00 to $20.00 in a research report issued on Monday, The Fly reports. B. Riley’s price objective would suggest a potential upside of 42.45% from the company’s previous close.

CIO has been the subject of several other research reports. StockNews.com raised City Office REIT from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised City Office REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on City Office REIT from $23.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, April 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.83.

City Office REIT stock opened at $14.04 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a fifty day moving average of $16.56 and a two-hundred day moving average of $17.73. The company has a market capitalization of $611.50 million, a price-to-earnings ratio of 1.37, a PEG ratio of 1.58 and a beta of 1.59. City Office REIT has a fifty-two week low of $10.48 and a fifty-two week high of $21.70.

City Office REIT (NYSE:CIOGet Rating) last released its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.15. City Office REIT had a return on equity of 96.22% and a net margin of 271.64%. During the same quarter in the prior year, the business earned $0.33 earnings per share. On average, analysts forecast that City Office REIT will post 1.48 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its position in City Office REIT by 22.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,064 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 2,924 shares during the period. New York State Common Retirement Fund lifted its stake in shares of City Office REIT by 9.4% during the first quarter. New York State Common Retirement Fund now owns 59,662 shares of the real estate investment trust’s stock worth $1,054,000 after purchasing an additional 5,135 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of City Office REIT by 275.6% during the first quarter. Russell Investments Group Ltd. now owns 89,768 shares of the real estate investment trust’s stock worth $1,584,000 after purchasing an additional 65,868 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of City Office REIT by 6.8% during the first quarter. Aptus Capital Advisors LLC now owns 131,764 shares of the real estate investment trust’s stock worth $2,327,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in shares of City Office REIT by 22.3% during the first quarter. Advisor Group Holdings Inc. now owns 6,571 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 1,200 shares in the last quarter. 76.79% 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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