Panagora Asset Management Inc. Has $3.22 Million Holdings in City Office REIT, Inc. (NYSE:CIO)

Panagora Asset Management Inc. boosted its stake in City Office REIT, Inc. (NYSE:CIO) by 9.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,155 shares of the real estate investment trust’s stock after buying an additional 23,155 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.60% of City Office REIT worth $3,221,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CIO. JPMorgan Chase & Co. lifted its holdings in shares of City Office REIT by 3.5% during the first quarter. JPMorgan Chase & Co. now owns 1,127,501 shares of the real estate investment trust’s stock valued at $11,974,000 after acquiring an additional 38,016 shares during the period. Geode Capital Management LLC lifted its holdings in City Office REIT by 10.0% during the 1st quarter. Geode Capital Management LLC now owns 944,057 shares of the real estate investment trust’s stock valued at $10,025,000 after purchasing an additional 85,610 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in City Office REIT by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 938,832 shares of the real estate investment trust’s stock valued at $9,970,000 after buying an additional 143,590 shares in the last quarter. Kennedy Capital Management Inc. grew its stake in City Office REIT by 13.0% during the first quarter. Kennedy Capital Management Inc. now owns 650,866 shares of the real estate investment trust’s stock worth $6,912,000 after buying an additional 74,923 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of City Office REIT by 7.3% during the first quarter. Prudential Financial Inc. now owns 386,733 shares of the real estate investment trust’s stock worth $4,108,000 after buying an additional 26,352 shares in the last quarter. Hedge funds and other institutional investors own 71.86% of the company’s stock.

In related news, CEO James Thomas Farrar sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 26th. The shares were sold at an average price of $25.50, for a total value of $76,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.50% of the company’s stock.

Shares of NYSE:CIO opened at $17.91 on Friday. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.79. City Office REIT, Inc. has a 1-year low of $6.12 and a 1-year high of $18.42. The stock has a market capitalization of $780.05 million, a P/E ratio of 16.90, a P/E/G ratio of 2.06 and a beta of 1.66. The business has a 50-day moving average price of $14.80 and a two-hundred day moving average price of $12.66.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 22nd. Stockholders of record on Friday, October 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, October 7th. City Office REIT’s dividend payout ratio is 49.18%.

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on City Office REIT from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday, June 25th. Zacks Investment Research downgraded shares of City Office REIT from a “buy” rating to a “hold” rating in a research report on Thursday, July 15th. Royal Bank of Canada raised their price objective on shares of City Office REIT from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, August 23rd. B. Riley upped their target price on shares of City Office REIT from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, August 23rd. Finally, Colliers Securities reissued a “buy” rating and issued a $16.00 price target on shares of City Office REIT in a report on Monday, August 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $15.83.

City Office REIT Profile

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.

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

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