City Office REIT (NYSE:CIO) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of City Office REIT (NYSE:CIOFree Report) from a hold rating to a sell rating in a report published on Wednesday.

City Office REIT Stock Up 0.7 %

Shares of NYSE CIO opened at $4.76 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.33 and a current ratio of 3.33. City Office REIT has a 52 week low of $3.45 and a 52 week high of $7.03. The stock has a market capitalization of $190.91 million, a P/E ratio of -19.02, a PEG ratio of 0.76 and a beta of 1.84. The stock’s fifty day moving average is $4.71 and its 200 day moving average is $4.84.

City Office REIT (NYSE:CIOGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.42). City Office REIT had a negative return on equity of 0.40% and a negative net margin of 1.50%. The company had revenue of $44.32 million during the quarter, compared to the consensus estimate of $44.47 million. During the same quarter in the previous year, the business posted $0.38 EPS. Sell-side analysts forecast that City Office REIT will post 1.09 earnings per share for the current fiscal year.

City Office REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 8.41%. The ex-dividend date of this dividend is Tuesday, April 9th. City Office REIT’s dividend payout ratio is presently -160.00%.

Insider Buying and Selling at City Office REIT

In other City Office REIT news, Director Michael Mazan bought 39,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were purchased at an average price of $4.22 per share, for a total transaction of $164,580.00. Following the completion of the transaction, the director now directly owns 39,000 shares in the company, valued at approximately $164,580. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.

Institutional Trading of City Office REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of City Office REIT during the fourth quarter worth about $972,000. Barclays PLC grew its holdings in shares of City Office REIT by 658.7% during the fourth quarter. Barclays PLC now owns 54,147 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 47,010 shares during the last quarter. Newtyn Management LLC grew its holdings in shares of City Office REIT by 0.7% during the fourth quarter. Newtyn Management LLC now owns 3,203,242 shares of the real estate investment trust’s stock worth $19,572,000 after purchasing an additional 23,242 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of City Office REIT by 38.7% during the fourth quarter. Nuveen Asset Management LLC now owns 172,456 shares of the real estate investment trust’s stock worth $1,054,000 after purchasing an additional 48,150 shares during the last quarter. Finally, Pitcairn Co. acquired a new position in shares of City Office REIT in the fourth quarter worth approximately $64,000. 67.47% of the stock is currently owned by institutional investors.

About City Office REIT

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City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.7 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.

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