PNC Financial Services Group Inc. Sells 8,751 Shares of City Office REIT, Inc. (NYSE:CIO)

PNC Financial Services Group Inc. cut its stake in shares of City Office REIT, Inc. (NYSE:CIOFree Report) by 66.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,469 shares of the real estate investment trust’s stock after selling 8,751 shares during the period. PNC Financial Services Group Inc.’s holdings in City Office REIT were worth $27,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in City Office REIT by 15.0% in the fourth quarter. SG Americas Securities LLC now owns 21,689 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 2,821 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in City Office REIT by 39.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 26,650 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 7,605 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in City Office REIT by 165.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,707 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 8,546 shares in the last quarter. Victory Capital Management Inc. boosted its stake in City Office REIT by 7.3% in the fourth quarter. Victory Capital Management Inc. now owns 141,000 shares of the real estate investment trust’s stock worth $862,000 after buying an additional 9,600 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its stake in City Office REIT by 14.4% in the third quarter. Penserra Capital Management LLC now owns 101,255 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 12,773 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised City Office REIT from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th.

Read Our Latest Research Report on City Office REIT

City Office REIT Stock Up 4.9 %

Shares of CIO opened at $5.13 on Tuesday. The firm has a market cap of $205.97 million, a P/E ratio of -18.32, a P/E/G ratio of 0.77 and a beta of 1.94. The stock has a 50 day simple moving average of $4.91 and a two-hundred day simple moving average of $5.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.23 and a quick ratio of 3.23. City Office REIT, Inc. has a 1 year low of $3.45 and a 1 year high of $6.70.

City Office REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.80%. The ex-dividend date is Wednesday, July 10th. City Office REIT’s dividend payout ratio (DPR) is presently -142.85%.

City Office REIT Company Profile

(Free Report)

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

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