Short Interest in City Office REIT, Inc. (NYSE:CIO) Declines By 10.0%

City Office REIT, Inc. (NYSE:CIO) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 275,400 shares, a decline of 10.0% from the October 15th total of 306,000 shares. Based on an average daily volume of 181,200 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in City Office REIT by 2,225.6% during the second quarter. Blue Trust Inc. now owns 5,279 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 5,052 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of City Office REIT in the second quarter valued at approximately $35,000. Sei Investments Co. purchased a new stake in shares of City Office REIT during the 2nd quarter valued at approximately $72,000. SG Americas Securities LLC bought a new position in City Office REIT in the 3rd quarter worth approximately $95,000. Finally, Mackenzie Financial Corp purchased a new position in City Office REIT in the 2nd quarter valued at approximately $83,000. Institutional investors own 67.47% of the company’s stock.

City Office REIT Stock Up 1.7 %

NYSE:CIO traded up $0.08 on Tuesday, hitting $4.91. The stock had a trading volume of 195,331 shares, compared to its average volume of 210,925. City Office REIT has a 1 year low of $4.02 and a 1 year high of $6.70. The firm’s fifty day simple moving average is $5.65 and its two-hundred day simple moving average is $5.39. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.42 and a current ratio of 2.42. The stock has a market cap of $197.14 million, a P/E ratio of -11.59, a price-to-earnings-growth ratio of 0.70 and a beta of 1.97.

City Office REIT (NYSE:CIO) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.36). The business had revenue of $42.37 million for the quarter, compared to the consensus estimate of $42.02 million. City Office REIT had a negative return on equity of 1.48% and a negative net margin of 5.56%. During the same quarter last year, the business posted $0.34 earnings per share. Analysts predict that City Office REIT will post 1.16 earnings per share for the current year.

City Office REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.15%. The ex-dividend date of this dividend was Thursday, October 10th. City Office REIT’s dividend payout ratio (DPR) is -95.24%.

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.