City Office REIT, Inc. (NYSE:CIO) Receives Consensus Rating of “Buy” from Analysts

City Office REIT, Inc. (NYSE:CIOGet Rating) has been given a consensus rating of “Hold” by the six research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.25.

A number of research analysts recently weighed in on CIO shares. Zacks Investment Research raised shares of City Office REIT from a “sell” rating to a “hold” rating in a report on Monday. StockNews.com raised shares of City Office REIT from a “hold” rating to a “buy” rating in a report on Friday, May 6th. B. Riley cut their target price on shares of City Office REIT from $22.00 to $20.00 in a report on Monday, May 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of City Office REIT from $23.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, April 14th.

City Office REIT stock opened at $13.58 on Thursday. The stock has a market cap of $591.46 million, a P/E ratio of 1.32, a PEG ratio of 1.48 and a beta of 1.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.76 and a quick ratio of 3.76. City Office REIT has a 1 year low of $10.75 and a 1 year high of $21.70. The firm’s 50 day moving average price is $16.03 and its 200-day moving average price is $17.44.

City Office REIT (NYSE:CIOGet Rating) last posted its earnings results on Thursday, May 5th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.15. City Office REIT had a net margin of 271.64% and a return on equity of 83.29%. During the same period last year, the firm earned $0.33 earnings per share. As a group, equities analysts expect that City Office REIT will post 1.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, April 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend was Thursday, April 7th. City Office REIT’s payout ratio is 7.80%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank purchased a new stake in shares of City Office REIT during the first quarter valued at $31,000. FMR LLC purchased a new stake in shares of City Office REIT during the first quarter valued at $31,000. Capital Analysts LLC purchased a new stake in shares of City Office REIT during the first quarter valued at $36,000. Meeder Asset Management Inc. purchased a new stake in shares of City Office REIT during the first quarter valued at $39,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of City Office REIT during the first quarter valued at $39,000. 76.79% of the stock is owned by institutional investors.

About City Office REIT (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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