Fuller & Thaler Asset Management Inc. grew its stake in City Office REIT Inc (NYSE:CIO) by 31.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,545 shares of the real estate investment trust’s stock after acquiring an additional 38,745 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in City Office REIT were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of City Office REIT in the second quarter worth about $101,000. Oppenheimer & Co. Inc. bought a new position in shares of City Office REIT in the first quarter worth about $117,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of City Office REIT by 163.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,140 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 6,906 shares during the last quarter. Boston Advisors LLC bought a new position in shares of City Office REIT in the second quarter worth about $188,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of City Office REIT in the fourth quarter worth about $193,000. 71.28% of the stock is owned by institutional investors.
Shares of NYSE:CIO opened at $12.92 on Tuesday. City Office REIT Inc has a one year low of $10.03 and a one year high of $13.93. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 1.75. The company has a market cap of $466.84 million, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.30 and a beta of 0.15.
City Office REIT (NYSE:CIO) last issued its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.32). City Office REIT had a return on equity of 17.42% and a net margin of 36.89%. The business had revenue of $30.24 million for the quarter, compared to analyst estimates of $31.09 million. equities research analysts forecast that City Office REIT Inc will post 1.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 25th. Stockholders of record on Wednesday, July 11th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 7.28%. The ex-dividend date was Tuesday, July 10th. City Office REIT’s dividend payout ratio is 96.91%.
CIO has been the subject of a number of research analyst reports. B. Riley lifted their price target on shares of City Office REIT from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. Boenning Scattergood set a $15.00 price target on shares of City Office REIT and gave the stock a “buy” rating in a research report on Friday, August 3rd. Royal Bank of Canada started coverage on shares of City Office REIT in a research report on Wednesday, June 27th. They set an “outperform” rating and a $14.00 price target for the company. Finally, TheStreet upgraded shares of City Office REIT from a “c” rating to a “b-” rating in a research report on Tuesday, May 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. City Office REIT currently has a consensus rating of “Buy” and a consensus target price of $14.20.
About City Office REIT
City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At March 31, 2018, CIO owned office complexes comprising 4.6 million square feet of net rentable area (?NRA?).
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