MetLife Investment Management LLC Lowers Stock Position in City Office REIT, Inc. $CIO

MetLife Investment Management LLC cut its holdings in shares of City Office REIT, Inc. (NYSE:CIO) by 54.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,564 shares of the real estate investment trust’s stock after selling 13,553 shares during the period. MetLife Investment Management LLC’s holdings in City Office REIT were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in shares of City Office REIT by 21.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,975 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 2,806 shares during the last quarter. Quantinno Capital Management LP grew its position in City Office REIT by 9.0% in the 4th quarter. Quantinno Capital Management LP now owns 42,213 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 3,491 shares during the last quarter. Victory Capital Management Inc. grew its position in City Office REIT by 2.2% in the 1st quarter. Victory Capital Management Inc. now owns 178,000 shares of the real estate investment trust’s stock valued at $924,000 after buying an additional 3,821 shares during the last quarter. Vident Advisory LLC grew its position in City Office REIT by 52.6% in the 4th quarter. Vident Advisory LLC now owns 15,384 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 5,303 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in City Office REIT in the 1st quarter valued at $30,000. 67.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott reiterated a “neutral” rating on shares of City Office REIT in a research report on Friday, July 25th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

City Office REIT Price Performance

Shares of NYSE CIO opened at $6.95 on Thursday. The firm has a market capitalization of $280.30 million, a P/E ratio of -2.19, a PEG ratio of 1.12 and a beta of 1.82. City Office REIT, Inc. has a one year low of $4.19 and a one year high of $6.99. The company’s fifty day moving average is $6.54 and its two-hundred day moving average is $5.55. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.31 and a current ratio of 3.31.

City Office REIT (NYSE:CIO) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $42.20 million for the quarter, compared to analyst estimates of $42.54 million. City Office REIT had a negative net margin of 71.27% and a negative return on equity of 20.26%. Analysts forecast that City Office REIT, Inc. will post 1 EPS for the current fiscal year.

City Office REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, July 10th. City Office REIT’s payout ratio is presently -12.62%.

City Office REIT Profile

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.