City Office REIT, Inc. (NYSE:CIO) Short Interest Up 5.5% in February

City Office REIT, Inc. (NYSE:CIO – Get Rating) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 541,300 shares, an increase of 5.5% from the February 13th total of 513,100 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 300,400 shares, the days-to-cover ratio is currently 1.8 days.

City Office REIT Stock Performance

NYSE:CIO opened at $6.48 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.48. The stock’s fifty day moving average is $8.89 and its 200 day moving average is $9.56. City Office REIT has a fifty-two week low of $6.42 and a fifty-two week high of $18.35. The firm has a market capitalization of $258.75 million, a PE ratio of 38.12 and a beta of 1.62.

City Office REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, April 11th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 12.35%. The ex-dividend date of this dividend is Monday, April 10th. City Office REIT’s payout ratio is currently 470.62%.

Institutional Investors Weigh In On City Office REIT

Several institutional investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. raised its position in City Office REIT by 0.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,191,577 shares of the real estate investment trust’s stock valued at $38,703,000 after acquiring an additional 5,916 shares in the last quarter. Nomura Holdings Inc. boosted its stake in City Office REIT by 4.3% during the second quarter. Nomura Holdings Inc. now owns 2,059,698 shares of the real estate investment trust’s stock worth $26,778,000 after buying an additional 84,344 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of City Office REIT by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,727,316 shares of the real estate investment trust’s stock valued at $22,369,000 after purchasing an additional 108,800 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of City Office REIT by 4.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,378,558 shares of the real estate investment trust’s stock valued at $11,552,000 after purchasing an additional 61,675 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of City Office REIT by 3.0% in the 1st quarter. State Street Corp now owns 1,376,131 shares of the real estate investment trust’s stock valued at $24,302,000 after buying an additional 40,105 shares during the period. Institutional investors and hedge funds own 76.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CIO. StockNews.com began coverage on shares of City Office REIT in a research report on Thursday. They set a “hold” rating for the company. B. Riley reduced their price target on shares of City Office REIT from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, February 27th.

City Office REIT Company Profile

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City Office REIT, Inc is a real estate investment trust. It focuses on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. The company was founded on November 26, 2013 and is headquartered in Vancouver, Canada.