Envestnet Asset Management Inc. Purchases 1,836 Shares of City Office REIT, Inc. (NYSE:CIO)

Envestnet Asset Management Inc. lifted its position in shares of City Office REIT, Inc. (NYSE:CIOGet Rating) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,556 shares of the real estate investment trust’s stock after purchasing an additional 1,836 shares during the quarter. Envestnet Asset Management Inc.’s holdings in City Office REIT were worth $1,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CIO. Truist Financial Corp boosted its holdings in City Office REIT by 2.8% in the first quarter. Truist Financial Corp now owns 29,356 shares of the real estate investment trust’s stock worth $518,000 after acquiring an additional 789 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in City Office REIT by 22.3% in the first quarter. Advisor Group Holdings Inc. now owns 6,571 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 1,200 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in City Office REIT by 4.7% in the first quarter. Great West Life Assurance Co. Can now owns 36,883 shares of the real estate investment trust’s stock worth $677,000 after acquiring an additional 1,667 shares in the last quarter. Huntington National Bank bought a new stake in City Office REIT in the first quarter worth $31,000. Finally, Capital Analysts LLC bought a new stake in City Office REIT in the first quarter worth $36,000. 81.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on CIO shares. Deutsche Bank Aktiengesellschaft dropped their target price on City Office REIT from $15.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, October 13th. StockNews.com cut City Office REIT from a “buy” rating to a “hold” rating in a research note on Thursday, October 20th. Finally, B. Riley decreased their price target on City Office REIT from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, November 8th.

City Office REIT Stock Down 0.6 %

CIO stock opened at $9.91 on Thursday. City Office REIT, Inc. has a 1-year low of $9.05 and a 1-year high of $21.70. The business has a fifty day moving average price of $10.10 and a 200-day moving average price of $11.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market capitalization of $393.62 million, a P/E ratio of 0.96, a P/E/G ratio of 1.14 and a beta of 1.55.

City Office REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 21st. Stockholders of record on Friday, October 7th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 8.07%. The ex-dividend date of this dividend was Thursday, October 6th. City Office REIT’s dividend payout ratio is currently 7.77%.

City Office REIT Company Profile

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City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2020, CIO owned office complexes comprising 5.8 million square feet of net rentable area (NRA).

Further Reading

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

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