Dalton Greiner Hartman Maher & Co. boosted its stake in City Office REIT Inc (NYSE:CIO) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 439,760 shares of the real estate investment trust’s stock after acquiring an additional 19,033 shares during the quarter. Dalton Greiner Hartman Maher & Co.’s holdings in City Office REIT were worth $5,946,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in CIO. Phocas Financial Corp. acquired a new stake in City Office REIT in the 2nd quarter valued at $25,000. FMR LLC acquired a new stake in City Office REIT in the 1st quarter valued at $31,000. Wiley BROS. Aintree Capital LLC acquired a new stake in City Office REIT in the 3rd quarter valued at $126,000. Hancock Whitney Corp acquired a new stake in City Office REIT in the 3rd quarter valued at $152,000. Finally, Convergence Investment Partners LLC acquired a new stake in City Office REIT in the 3rd quarter valued at $166,000. 67.62% of the stock is currently owned by hedge funds and other institutional investors.
City Office REIT stock opened at $13.63 on Thursday. The company’s fifty day moving average price is $13.22 and its 200 day moving average price is $13.20. City Office REIT Inc has a 1 year low of $10.72 and a 1 year high of $14.50. The stock has a market capitalization of $731.48 million, a P/E ratio of 11.36 and a beta of 0.43. The company has a debt-to-equity ratio of 1.83, a quick ratio of 2.26 and a current ratio of 2.26.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $0.94 dividend on an annualized basis and a yield of 6.90%. City Office REIT’s payout ratio is currently 87.04%.
CIO has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of City Office REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, January 6th. Raymond James raised shares of City Office REIT from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research note on Tuesday, January 7th. Finally, ValuEngine raised shares of City Office REIT from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. City Office REIT presently has an average rating of “Buy” and a consensus price target of $14.17.
City Office REIT Company Profile
City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2018, CIO owned office complexes comprising 5.7 million square feet of net rentable area (NRA).
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