City Office REIT (NYSE:CIO) Share Price Crosses Below 200 Day Moving Average of $4.88

City Office REIT, Inc. (NYSE:CIO) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.88 and traded as low as $4.48. City Office REIT shares last traded at $4.56, with a volume of 220,239 shares changing hands.

Analysts Set New Price Targets

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

City Office REIT Stock Performance

The firm has a 50 day moving average of $4.57 and a 200-day moving average of $4.88. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.33 and a current ratio of 3.33.

City Office REIT (NYSE:CIO) last released its earnings results on Thursday, February 22nd. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.42). The firm had revenue of $44.32 million for the quarter, compared to the consensus estimate of $44.47 million. City Office REIT had a negative return on equity of 0.40% and a negative net margin of 1.50%. During the same quarter last year, the company posted $0.38 EPS. Analysts anticipate that City Office REIT, Inc. will post 1.09 EPS for the current fiscal year.

City Office REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date was Tuesday, April 9th. City Office REIT’s payout ratio is -160.00%.

Insider Activity at City Office REIT

In other City Office REIT news, Director Michael Mazan purchased 39,000 shares of City Office REIT stock in a transaction on Tuesday, March 19th. The stock was bought at an average cost of $4.22 per share, with a total value of $164,580.00. Following the transaction, the director now owns 39,000 shares of the company’s stock, valued at approximately $164,580. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On City Office REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in City Office REIT by 165.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,707 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 8,546 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of City Office REIT by 23.5% during the 4th quarter. Franklin Resources Inc. now owns 315,973 shares of the real estate investment trust’s stock valued at $1,931,000 after acquiring an additional 60,197 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of City Office REIT during the 4th quarter valued at about $97,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of City Office REIT by 39.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 26,650 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 7,605 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of City Office REIT during the 4th quarter valued at about $122,000. Institutional investors and hedge funds own 67.47% of the company’s stock.

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.