City Office REIT (NYSE:CIO) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.
Separately, Royal Bank of Canada decreased their target price on City Office REIT from $10.00 to $7.00 in a research note on Tuesday, May 30th.
City Office REIT Trading Down 1.1 %
NYSE:CIO traded down $0.06 during trading hours on Friday, reaching $5.26. 308,400 shares of the stock were exchanged, compared to its average volume of 434,615. City Office REIT has a twelve month low of $4.03 and a twelve month high of $13.50. The business has a 50-day moving average of $5.43 and a two-hundred day moving average of $6.63. The company has a market capitalization of $210.08 million, a price-to-earnings ratio of -14.22, a PEG ratio of 0.68 and a beta of 1.67. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 1.04.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of CIO. Goldman Sachs Group Inc. increased its position in shares of City Office REIT by 122.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,223 shares of the real estate investment trust’s stock valued at $11,854,000 after purchasing an additional 369,867 shares during the last quarter. Bank of Montreal Can acquired a new stake in City Office REIT in the first quarter valued at $5,674,000. Franklin Resources Inc. purchased a new stake in City Office REIT during the 1st quarter worth about $1,419,000. Marshall Wace LLP boosted its position in shares of City Office REIT by 658.9% during the 3rd quarter. Marshall Wace LLP now owns 216,744 shares of the real estate investment trust’s stock worth $2,160,000 after acquiring an additional 188,184 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of City Office REIT by 135.4% in the 4th quarter. JPMorgan Chase & Co. now owns 312,430 shares of the real estate investment trust’s stock valued at $2,618,000 after acquiring an additional 179,688 shares during the last quarter. 71.46% of the stock is currently owned by hedge funds and other institutional investors.
City Office REIT Company Profile
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 6.0 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.