Janney Montgomery Scott LLC sells 1,342 shares of City Office REIT, Inc. (NYSE: CIO)
Janney Montgomery Scott LLC reduced its position in shares of City Office REIT, Inc. (NYSE: CIO – Get a rating) by 1.9% in the 4th quarter, according to the company in its latest filing with the Securities and Exchange Commission. The company held 68,112 shares of the real estate investment trust after selling 1,342 shares during the period. Janney Montgomery Scott LLC owned 0.16% of City Office REIT worth $1,343,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Raymond James & Associates increased its stake in shares of City Office REIT by 2.0% in Q3. Raymond James & Associates now owns 33,366 shares of the real estate investment trust worth $596,000 after buying an additional 640 shares last quarter. The New York State Common Retirement Fund increased its stake in City Office REIT shares by 1.9% in Q3. The New York State Common Retirement Fund now owns 54,510 shares of the real estate investment trust worth $974,000 after buying 1,011 additional shares in the last quarter. US Bancorp DE increased its stake in City Office REIT shares by 79.2% in Q3. US Bancorp DE now owns 2,618 shares of the real estate investment trust valued at $47,000 after buying an additional 1,157 shares last quarter. Point72 Hong Kong Ltd increased its stake in City Office REIT shares by 57.7% in Q3. Point72 Hong Kong Ltd now owns 3,507 shares of the real estate investment trust valued at $63,000 after buying an additional 1,283 shares last quarter. Finally, Exchange Traded Concepts LLC increased its stake in City Office REIT shares by 4.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,815 shares of the real estate investment trust worth $588,000 after buying 1,305 additional shares in the last quarter. 73.56% of the shares are held by institutional investors and hedge funds.
CIO opened at $16.46 on Monday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt ratio of 0.86. The stock has a market capitalization of $716.90 million, a PE ratio of 1.52, a PEG ratio of 1.85 and a beta of 1.59. City Office REIT, Inc. has a 1-year minimum of $10.48 and a 1-year maximum of $21.70. The company has a 50-day moving average price of $17.40 and a two-hundred-day moving average price of $18.12.
FPI City Office (NYSE: CIO – Get a rating) last released its quarterly earnings data on Thursday, February 24. The real estate investment trust reported earnings per share of $9.76 for the quarter, beating the consensus estimate of $0.30 by $9.46. City Office REIT posted a net margin of 295.29% and a return on equity of 108.72%. In the same period a year earlier, the company posted earnings per share of $0.32. On average, research analysts predict that City Office REIT, Inc. will post EPS of 1.49 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 22. Shareholders of record on Friday, April 8 will receive a dividend of $0.20. This represents an annualized dividend of $0.80 and a yield of 4.86%. The ex-dividend date is Thursday, April 7. City Office REIT’s payout ratio is currently 7.40%.
A number of stock analysts have recently released reports on the stock. StockNews.com began covering City Office REIT shares in a research note on Thursday, March 31. They issued a “holding” rating for the company. Zacks Investment Research cut shares of City Office REIT from a “strong buy” rating to a “hold” rating in a Monday, March 7 research report. Five equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat, City Office REIT currently has a consensus rating of “Hold” and an average target price of $18.33.
Municipal Office REIT Profile (Get a rating)
City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 6 p.m. cities with strong economic fundamentals, primarily in the southern and western United States. As of September 30, 2020, CIO owned office complexes comprising 5.8 million square feet of net leasable area (NRA).
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