Wolverine Asset Management LLC Invests $628,000 in City Office REIT, Inc. $CIO

Wolverine Asset Management LLC purchased a new stake in City Office REIT, Inc. (NYSE:CIO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 90,281 shares of the real estate investment trust’s stock, valued at approximately $628,000.

A number of other institutional investors have also recently added to or reduced their stakes in CIO. Sumitomo Mitsui Trust Group Inc. boosted its holdings in City Office REIT by 20.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 45,228 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 7,674 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of City Office REIT in the second quarter valued at approximately $85,000. Pitcairn Co. bought a new stake in shares of City Office REIT during the 2nd quarter worth $54,000. Tower Research Capital LLC TRC raised its holdings in City Office REIT by 473.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,623 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 7,946 shares during the period. Finally, Bank of America Corp DE boosted its holdings in City Office REIT by 145.9% during the second quarter. Bank of America Corp DE now owns 88,275 shares of the real estate investment trust’s stock valued at $471,000 after acquiring an additional 52,375 shares during the period. 67.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of City Office REIT in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

City Office REIT Stock Down 0.1%

Shares of CIO opened at $6.99 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.76 and a current ratio of 2.76. The company has a 50-day simple moving average of $6.93 and a 200-day simple moving average of $6.79. City Office REIT, Inc. has a 52 week low of $4.19 and a 52 week high of $7.01. The firm has a market capitalization of $282.14 million, a P/E ratio of -2.21 and a beta of 1.59.

City Office REIT Company Profile

City Office REIT, Inc (NYSE:CIO) is a publicly traded real estate investment trust focused on acquiring, managing and enhancing office and related properties in select Sun Belt and Southeastern U.S. markets. Established in 2017 through a spin-off from Shorenstein Properties, the company targets high-growth secondary markets offering favorable demographic trends, employment growth and constrained new office supply. Its strategy emphasizes well-located assets in metropolitan areas experiencing population inflows and corporate relocations.

The trust’s core business activities include property acquisition, leasing, asset management and value-add redevelopment initiatives.