Crow Point Partners LLC Purchases Shares of 200,000 City Office REIT Inc (CIO)

Crow Point Partners LLC purchased a new position in shares of City Office REIT Inc (NYSE:CIO) during the fourth quarter, Holdings Channel reports. The fund purchased 200,000 shares of the real estate investment trust’s stock, valued at approximately $2,610,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of City Office REIT by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,099,528 shares of the real estate investment trust’s stock worth $15,141,000 after buying an additional 47,492 shares in the last quarter. Vanguard Group Inc. raised its position in shares of City Office REIT by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,093,747 shares of the real estate investment trust’s stock worth $13,891,000 after buying an additional 56,367 shares in the last quarter. LSV Asset Management raised its position in shares of City Office REIT by 25.8% during the 2nd quarter. LSV Asset Management now owns 843,506 shares of the real estate investment trust’s stock worth $10,712,000 after buying an additional 172,841 shares in the last quarter. Real Estate Management Services LLC raised its position in shares of City Office REIT by 38.1% during the 3rd quarter. Real Estate Management Services LLC now owns 670,343 shares of the real estate investment trust’s stock worth $9,231,000 after buying an additional 185,016 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of City Office REIT by 7.0% during the 3rd quarter. D.A. Davidson & CO. now owns 598,669 shares of the real estate investment trust’s stock worth $8,243,000 after buying an additional 38,950 shares in the last quarter. Institutional investors own 48.27% of the company’s stock.

A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of City Office REIT from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, January 2nd. FBR & Co restated a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. Deutsche Bank downgraded shares of City Office REIT from a “buy” rating to a “hold” rating in a research report on Wednesday. B. Riley restated a “buy” rating and set a $14.50 price target on shares of City Office REIT in a research report on Tuesday, November 7th. Finally, ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.75.

Shares of City Office REIT Inc (NYSE CIO) traded down $0.03 on Wednesday, hitting $12.86. 304,100 shares of the stock traded hands, compared to its average volume of 279,500. The firm has a market cap of $433.02, a PE ratio of -75.65, a P/E/G ratio of 1.39 and a beta of 0.22. The company has a debt-to-equity ratio of 2.80, a current ratio of 3.94 and a quick ratio of 3.94. City Office REIT Inc has a 12 month low of $11.43 and a 12 month high of $13.93.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 11th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Wednesday, January 10th. This represents a $0.94 annualized dividend and a dividend yield of 7.31%. City Office REIT’s dividend payout ratio is currently -552.94%.

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City Office REIT Company Profile

City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.

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

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