Geode Capital Management LLC boosted its stake in City Office REIT, Inc. (NYSE:CIO) by 6.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 207,391 shares of the real estate investment trust’s stock after buying an additional 12,633 shares during the period. Geode Capital Management LLC owned about 0.69% of City Office REIT worth $2,519,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Ameriprise Financial Inc. acquired a new position in shares of City Office REIT during the first quarter valued at about $148,000. Stoneridge Investment Partners LLC purchased a new stake in shares of City Office REIT during the first quarter worth about $150,000. Schnieders Capital Management LLC raised its stake in shares of City Office REIT by 5.1% in the first quarter. Schnieders Capital Management LLC now owns 12,400 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 600 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of City Office REIT by 21.1% in the first quarter. Nationwide Fund Advisors now owns 15,489 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 2,699 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of City Office REIT by 43.6% in the first quarter. American International Group Inc. now owns 15,518 shares of the real estate investment trust’s stock worth $189,000 after buying an additional 4,710 shares during the last quarter. 53.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of City Office REIT, Inc. (NYSE CIO) traded up 0.16% during trading on Friday, hitting $12.48. The stock had a trading volume of 18,844 shares. The stock’s 50 day moving average price is $12.54 and its 200-day moving average price is $12.49. The stock’s market cap is $377.67 million. City Office REIT, Inc. has a one year low of $11.43 and a one year high of $13.55.
City Office REIT (NYSE:CIO) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. City Office REIT had a net margin of 3.70% and a return on equity of 1.91%. The business had revenue of $25.16 million for the quarter, compared to analysts’ expectations of $26.18 million. During the same quarter last year, the company earned $0.22 EPS. Analysts expect that City Office REIT, Inc. will post ($0.10) earnings per share for the current fiscal year.
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A number of analysts recently issued reports on the company. ValuEngine lowered City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub upgraded City Office REIT from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Deutsche Bank AG upped their target price on City Office REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Finally, FBR & Co began coverage on City Office REIT in a report on Tuesday, July 11th. They set an “outperform” rating and a $14.50 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.63.
City Office REIT Company Profile
City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.
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