M&G Investment Management Ltd. Takes $107,000 Position in City Office REIT, Inc. (NYSE:CIO)

M&G Investment Management Ltd. purchased a new stake in City Office REIT, Inc. (NYSE:CIOGet Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,671 shares of the real estate investment trust’s stock, valued at approximately $107,000.

A number of other hedge funds also recently made changes to their positions in CIO. Goldman Sachs Group Inc. boosted its stake in shares of City Office REIT by 122.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,223 shares of the real estate investment trust’s stock valued at $11,854,000 after purchasing an additional 369,867 shares in the last quarter. Bank of Montreal Can acquired a new stake in City Office REIT during the 1st quarter worth approximately $5,674,000. Renaissance Technologies LLC boosted its position in City Office REIT by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,727,316 shares of the real estate investment trust’s stock worth $22,369,000 after buying an additional 108,800 shares during the period. Nomura Holdings Inc. boosted its position in City Office REIT by 4.3% during the 2nd quarter. Nomura Holdings Inc. now owns 2,059,698 shares of the real estate investment trust’s stock worth $26,778,000 after buying an additional 84,344 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in City Office REIT during the 1st quarter worth approximately $1,333,000. 76.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CIO shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of City Office REIT from $15.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, October 13th. B. Riley cut their target price on shares of City Office REIT from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, November 8th. Finally, StockNews.com lowered shares of City Office REIT from a “buy” rating to a “hold” rating in a report on Thursday, October 20th.

City Office REIT Stock Up 3.1 %

City Office REIT stock opened at $9.38 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.14 and a current ratio of 2.14. City Office REIT, Inc. has a 52-week low of $8.03 and a 52-week high of $20.10. The firm has a 50 day moving average price of $9.19 and a two-hundred day moving average price of $10.82. The firm has a market cap of $372.56 million, a price-to-earnings ratio of 0.91, a PEG ratio of 1.19 and a beta of 1.54.

City Office REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 24th. Shareholders of record on Tuesday, January 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, January 9th. This represents a $0.80 annualized dividend and a yield of 8.53%. City Office REIT’s payout ratio is 7.77%.

About City Office REIT

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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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Institutional Ownership by Quarter for City Office REIT (NYSE:CIO)

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