City Office REIT (NYSE:CIO) Stock Crosses Above 50 Day Moving Average of $4.84

City Office REIT, Inc. (NYSE:CIO)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.84 and traded as high as $4.97. City Office REIT shares last traded at $4.90, with a volume of 156,611 shares changing hands.

Analyst Ratings Changes

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

City Office REIT Price Performance

The stock has a market capitalization of $195.13 million, a price-to-earnings ratio of -17.36, a price-to-earnings-growth ratio of 0.77 and a beta of 1.91. The company has a 50 day moving average of $4.86 and a 200 day moving average of $5.07. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 1.02.

City Office REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.40 annualized dividend and a yield of 8.23%. City Office REIT’s payout ratio is currently -142.85%.

Hedge Funds Weigh In On City Office REIT

Several institutional investors have recently added to or reduced their stakes in CIO. AQR Capital Management LLC increased its stake in City Office REIT by 73.2% during the third quarter. AQR Capital Management LLC now owns 1,059,006 shares of the real estate investment trust’s stock worth $4,501,000 after acquiring an additional 447,484 shares during the last quarter. Newtyn Management LLC increased its stake in City Office REIT by 3.9% during the third quarter. Newtyn Management LLC now owns 3,180,000 shares of the real estate investment trust’s stock worth $13,515,000 after acquiring an additional 120,279 shares during the last quarter. Franklin Resources Inc. increased its stake in City Office REIT by 23.5% during the fourth quarter. Franklin Resources Inc. now owns 315,973 shares of the real estate investment trust’s stock worth $1,931,000 after acquiring an additional 60,197 shares during the last quarter. Acadian Asset Management LLC increased its stake in City Office REIT by 44.3% during the first quarter. Acadian Asset Management LLC now owns 171,952 shares of the real estate investment trust’s stock worth $894,000 after acquiring an additional 52,787 shares during the last quarter. Finally, Nomura Holdings Inc. increased its stake in City Office REIT by 2.8% during the third quarter. Nomura Holdings Inc. now owns 1,695,635 shares of the real estate investment trust’s stock worth $7,206,000 after acquiring an additional 46,800 shares during the last quarter. 67.47% of the stock is currently owned by institutional investors and hedge funds.

About City Office REIT

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.