City Office REIT, Inc. (NYSE:CIO) Stake Reduced by LSV Asset Management

LSV Asset Management cut its position in City Office REIT, Inc. (NYSE:CIO) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,820,041 shares of the real estate investment trust’s stock after selling 34,200 shares during the quarter. LSV Asset Management owned about 4.56% of City Office REIT worth $11,120,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in City Office REIT in the 3rd quarter valued at about $80,000. Diligent Investors LLC bought a new stake in City Office REIT during the third quarter worth approximately $98,000. Penserra Capital Management LLC lifted its position in City Office REIT by 14.4% in the third quarter. Penserra Capital Management LLC now owns 101,255 shares of the real estate investment trust’s stock worth $430,000 after purchasing an additional 12,773 shares during the period. Victory Capital Management Inc. boosted its stake in City Office REIT by 11.4% during the 3rd quarter. Victory Capital Management Inc. now owns 131,400 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 13,400 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of City Office REIT by 73.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,059,006 shares of the real estate investment trust’s stock valued at $4,501,000 after purchasing an additional 447,484 shares during the period. Institutional investors and hedge funds own 67.47% of the company’s stock.

Insider Buying and Selling at City Office REIT

In other news, Director Michael Mazan bought 39,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were purchased at an average price of $4.22 per share, for a total transaction of $164,580.00. Following the completion of the purchase, the director now directly owns 39,000 shares of the company’s stock, valued at approximately $164,580. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of City Office REIT from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th.

City Office REIT Stock Performance

CIO opened at $4.85 on Wednesday. The business has a fifty day simple moving average of $4.61 and a 200-day simple moving average of $4.94. The firm has a market cap of $194.53 million, a PE ratio of -17.30, a P/E/G ratio of 0.74 and a beta of 1.84. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 1.01. City Office REIT, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $6.70.

City Office REIT (NYSE:CIO) last posted its quarterly earnings data on Thursday, February 22nd. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.42). City Office REIT had a negative return on equity of 0.59% and a negative net margin of 2.24%. The firm had revenue of $44.32 million for the quarter, compared to analysts’ expectations of $44.47 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, equities analysts predict that City Office REIT, Inc. will post 1.09 EPS for the current fiscal year.

City Office REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.40 dividend on an annualized basis and a yield of 8.26%. City Office REIT’s payout ratio is -142.85%.

City Office REIT Profile

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.7 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.