Short Interest in City Office REIT, Inc. (NYSE:CIO) Drops By 7.4%

City Office REIT, Inc. (NYSE:CIOGet Free Report) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 434,200 shares, a decrease of 7.4% from the February 29th total of 469,000 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 292,000 shares, the short-interest ratio is currently 1.5 days.

Insider Activity

In related news, Director Michael Mazan bought 39,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average price of $4.22 per share, for a total transaction of $164,580.00. Following the acquisition, the director now owns 39,000 shares in the company, valued at approximately $164,580. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On City Office REIT

A number of large investors have recently bought and sold shares of CIO. Advisor Group Holdings Inc. raised its position in City Office REIT by 22.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,571 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 1,200 shares during the last quarter. Raymond James & Associates raised its position in City Office REIT by 36.4% during the 1st quarter. Raymond James & Associates now owns 56,962 shares of the real estate investment trust’s stock worth $1,006,000 after buying an additional 15,212 shares during the last quarter. US Bancorp DE raised its position in City Office REIT by 165.1% during the 1st quarter. US Bancorp DE now owns 7,245 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 4,512 shares during the last quarter. Bank of Montreal Can purchased a new position in City Office REIT during the 1st quarter worth $5,674,000. Finally, MetLife Investment Management LLC raised its position in City Office REIT by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 23,617 shares of the real estate investment trust’s stock worth $417,000 after buying an additional 8,574 shares during the last quarter. Hedge funds and other institutional investors own 67.47% of the company’s stock.

City Office REIT Stock Down 5.4 %

Shares of NYSE:CIO opened at $4.72 on Wednesday. The stock has a market cap of $189.51 million, a P/E ratio of -18.88, a P/E/G ratio of 0.80 and a beta of 1.84. The firm has a fifty day moving average price of $4.73 and a 200 day moving average price of $4.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.33 and a quick ratio of 3.33. City Office REIT has a 1-year low of $3.45 and a 1-year high of $7.12.

City Office REIT (NYSE:CIOGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.42). The business had revenue of $44.32 million for the quarter, compared to analyst estimates of $44.47 million. City Office REIT had a negative return on equity of 0.40% and a negative net margin of 1.50%. During the same quarter in the prior year, the company earned $0.38 EPS. Sell-side analysts predict that City Office REIT will post 1.09 EPS for the current year.

City Office REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $0.40 dividend on an annualized basis and a yield of 8.47%. City Office REIT’s payout ratio is currently -160.00%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of City Office REIT from a “sell” rating to a “hold” rating in a report on Friday, March 22nd.

Read Our Latest Analysis on City Office REIT

City Office REIT Company Profile

(Get Free Report)

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.

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