Rhumbline Advisers Lowers Stock Position in City Office REIT, Inc. $CIO

Rhumbline Advisers trimmed its stake in shares of City Office REIT, Inc. (NYSE:CIO) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,434 shares of the real estate investment trust’s stock after selling 2,979 shares during the period. Rhumbline Advisers owned 0.16% of City Office REIT worth $340,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in shares of City Office REIT by 2.2% in the first quarter. Victory Capital Management Inc. now owns 178,000 shares of the real estate investment trust’s stock worth $924,000 after buying an additional 3,821 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of City Office REIT by 6.1% in the first quarter. Cubist Systematic Strategies LLC now owns 80,451 shares of the real estate investment trust’s stock valued at $418,000 after purchasing an additional 4,646 shares during the period. Vident Advisory LLC lifted its stake in City Office REIT by 52.6% in the fourth quarter. Vident Advisory LLC now owns 15,384 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 5,303 shares during the last quarter. Deutsche Bank AG purchased a new position in City Office REIT in the first quarter worth approximately $30,000. Finally, Strs Ohio purchased a new position in City Office REIT in the first quarter worth approximately $40,000. 67.47% of the stock is owned by hedge funds and other institutional investors.

City Office REIT Stock Performance

NYSE:CIO opened at $6.96 on Thursday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 1.29. City Office REIT, Inc. has a fifty-two week low of $4.19 and a fifty-two week high of $6.99. The stock has a market cap of $280.70 million, a PE ratio of -2.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.82. The firm’s fifty day simple moving average is $6.80 and its 200-day simple moving average is $5.68.

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

Wall Street Analysts Forecast Growth

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

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.