Insider Buying: City Office REIT Inc (NYSE:CIO) Director Purchases 10,000 Shares of Stock

City Office REIT Inc (NYSE:CIO) Director Stephen B. Shraiberg purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was bought at an average cost of $8.01 per share, for a total transaction of $80,100.00. Following the purchase, the director now directly owns 96,711 shares in the company, valued at approximately $774,655.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CIO traded up $0.16 on Thursday, hitting $7.40. 493,576 shares of the company’s stock were exchanged, compared to its average volume of 646,514. The firm has a 50-day moving average price of $11.40 and a 200-day moving average price of $12.98. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 1.39. The stock has a market cap of $393.60 million, a price-to-earnings ratio of -52.85 and a beta of 0.60. City Office REIT Inc has a fifty-two week low of $6.80 and a fifty-two week high of $14.50.

City Office REIT (NYSE:CIO) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.06. The firm had revenue of $39.06 million for the quarter, compared to analyst estimates of $40.48 million. City Office REIT had a net margin of 1.15% and a return on equity of 0.54%. On average, equities analysts predict that City Office REIT Inc will post 1.13 EPS for the current year.

A number of equities research analysts recently issued reports on CIO shares. Zacks Investment Research cut shares of City Office REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, March 17th. ValuEngine raised shares of City Office REIT from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Raymond James raised shares of City Office REIT from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research note on Tuesday, January 7th. Compass Point cut shares of City Office REIT from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research note on Thursday. Finally, B. Riley dropped their price target on shares of City Office REIT from $14.50 to $14.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. City Office REIT currently has a consensus rating of “Hold” and an average price target of $13.50.

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in shares of City Office REIT by 894.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,231,836 shares of the real estate investment trust’s stock valued at $16,654,000 after acquiring an additional 1,107,986 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of City Office REIT by 135.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,547,949 shares of the real estate investment trust’s stock valued at $20,928,000 after acquiring an additional 891,842 shares during the period. LSV Asset Management boosted its holdings in shares of City Office REIT by 24.3% in the fourth quarter. LSV Asset Management now owns 2,456,111 shares of the real estate investment trust’s stock valued at $33,206,000 after acquiring an additional 480,050 shares during the period. Kennedy Capital Management Inc. boosted its holdings in shares of City Office REIT by 110.8% in the fourth quarter. Kennedy Capital Management Inc. now owns 792,945 shares of the real estate investment trust’s stock valued at $10,721,000 after acquiring an additional 416,733 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of City Office REIT by 499.0% in the third quarter. Millennium Management LLC now owns 304,426 shares of the real estate investment trust’s stock valued at $4,380,000 after acquiring an additional 253,606 shares during the period. Hedge funds and other institutional investors own 81.11% of the company’s stock.

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”).

Featured Story: What is required to own or exchange cryptocurrency?

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.