Zacks Investment Research Upgrades City Office REIT (NYSE:CIO) to Hold

City Office REIT (NYSE:CIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning, and operating office properties in the United States. The Company invests in properties located in metropolitan areas in the Southern and Western United States. City Office REIT, Inc. is based in Vancouver, Canada. “

A number of other equities research analysts also recently weighed in on CIO. JMP Securities upped their price target on shares of City Office REIT from $14.00 to $15.00 and gave the company a “market outperform” rating in a report on Thursday, September 12th. B. Riley upped their price target on shares of City Office REIT from $12.50 to $13.50 and gave the company a “buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $14.00.

NYSE CIO traded down $0.28 on Thursday, reaching $13.30. The company’s stock had a trading volume of 420,498 shares, compared to its average volume of 357,224. City Office REIT has a twelve month low of $9.73 and a twelve month high of $14.50. The company has a debt-to-equity ratio of 1.83, a quick ratio of 2.70 and a current ratio of 2.26. The stock has a market cap of $728.20 million, a PE ratio of 12.31, a PEG ratio of 1.43 and a beta of 0.44. The firm’s 50 day moving average is $13.73 and its two-hundred day moving average is $12.75.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Private Advisor Group LLC raised its holdings in City Office REIT by 5.1% during the 2nd quarter. Private Advisor Group LLC now owns 15,992 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 778 shares during the period. WINTON GROUP Ltd raised its holdings in City Office REIT by 12.7% during the 2nd quarter. WINTON GROUP Ltd now owns 12,236 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 1,378 shares during the period. Royal Bank of Canada raised its holdings in City Office REIT by 3.1% during the 2nd quarter. Royal Bank of Canada now owns 48,150 shares of the real estate investment trust’s stock worth $577,000 after buying an additional 1,427 shares during the period. Eidelman Virant Capital raised its holdings in City Office REIT by 3.8% during the 3rd quarter. Eidelman Virant Capital now owns 45,600 shares of the real estate investment trust’s stock worth $656,000 after buying an additional 1,650 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in City Office REIT by 31.9% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 2,000 shares during the period. 60.58% of the stock is owned by institutional investors.

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”).

Read More: Tariff

Get a free copy of the Zacks research report on City Office REIT (CIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for City Office REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Office REIT and related companies with MarketBeat.com's FREE daily email newsletter.