City Office REIT Inc (NYSE:CIO) Director John R. Mclernon bought 2,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average cost of $11.61 per share, for a total transaction of $23,220.00. Following the completion of the acquisition, the director now owns 3,607 shares in the company, valued at approximately $41,877.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of City Office REIT Inc (NYSE:CIO) traded up 0.1043% during midday trading on Monday, hitting $12.0025. 13,838 shares of the stock were exchanged. The stock’s market capitalization is $362.14 million. City Office REIT Inc has a 1-year low of $11.01 and a 1-year high of $13.93. The firm’s 50 day moving average is $12.68 and its 200-day moving average is $12.65.
City Office REIT (NYSE:CIO) last posted its quarterly earnings results on Thursday, March 2nd. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. City Office REIT had a net margin of 1.33% and a return on equity of 0.79%. The firm earned $21.30 million during the quarter, compared to the consensus estimate of $20.99 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue was up 21.4% compared to the same quarter last year. On average, analysts predict that City Office REIT Inc will post ($0.61) EPS for the current year.
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A number of equities research analysts have recently issued reports on the stock. Deutsche Bank AG dropped their target price on shares of City Office REIT to $14.00 in a report on Monday. Zacks Investment Research raised shares of City Office REIT from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, January 3rd. TheStreet raised shares of City Office REIT from a “d” rating to a “c-” rating in a report on Thursday, March 2nd. Finally, Raymond James Financial, Inc. assumed coverage on shares of City Office REIT in a report on Wednesday, March 1st. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.70.
A number of large investors have recently bought and sold shares of CIO. Ardsley Advisory Partners bought a new stake in City Office REIT during the third quarter valued at $10,237,000. Silvercrest Asset Management Group LLC increased its stake in City Office REIT by 25.2% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 386,640 shares of the company’s stock valued at $5,092,000 after buying an additional 77,725 shares during the last quarter. Analytic Investors LLC acquired a new stake in City Office REIT during the third quarter valued at approximately $792,000. LSV Asset Management increased its stake in City Office REIT by 225.6% in the third quarter. LSV Asset Management now owns 87,908 shares of the company’s stock valued at $1,119,000 after buying an additional 60,908 shares during the last quarter. Finally, First Allied Advisory Services Inc. acquired a new stake in City Office REIT during the fourth quarter valued at approximately $729,000. 36.86% of the stock is owned by hedge funds and other institutional investors.
City Office REIT Company Profile
City Office REIT, Inc is focused on acquiring, owning and operating Class A and B office properties located within its target markets in the United States. The Company operates in the office properties segment. The Company has over 10 primary target markets, which are located in metropolitan areas in the Southern and Western United States.
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