Lazard Asset Management LLC Buys 2,683 Shares of City Office REIT, Inc. (NYSE:CIO)

Lazard Asset Management LLC grew its stake in shares of City Office REIT, Inc. (NYSE:CIOGet Rating) by 120.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,907 shares of the real estate investment trust’s stock after acquiring an additional 2,683 shares during the period. Lazard Asset Management LLC’s holdings in City Office REIT were worth $63,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its holdings in shares of City Office REIT by 22.3% during the first quarter. Advisor Group Holdings Inc. now owns 6,571 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 1,200 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of City Office REIT by 4.7% during 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 purchasing an additional 1,667 shares during the period. Huntington National Bank acquired a new position in shares of City Office REIT during the first quarter worth $31,000. Envestnet Asset Management Inc. lifted its holdings in shares of City Office REIT by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 81,556 shares of the real estate investment trust’s stock worth $1,056,000 after purchasing an additional 1,836 shares during the period. Finally, Capital Analysts LLC acquired a new position in shares of City Office REIT during the first quarter worth $36,000. Institutional investors own 81.19% of the company’s stock.

Analyst Ratings Changes

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

City Office REIT Price Performance

CIO stock opened at $9.91 on Friday. The firm has a market cap of $393.63 million, a price-to-earnings ratio of 0.96, a PEG ratio of 1.15 and a beta of 1.55. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.95. City Office REIT, Inc. has a 12-month low of $9.05 and a 12-month high of $21.70. The company’s fifty day simple moving average is $10.07 and its 200 day simple moving average is $11.85.

City Office REIT Dividend Announcement

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

City Office REIT Company Profile

(Get Rating)

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).

Recommended Stories

Want to see what other hedge funds are holding CIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for City Office REIT, Inc. (NYSE:CIOGet Rating).

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

Receive News & Ratings for City Office REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Office REIT and related companies with MarketBeat.com's FREE daily email newsletter.