Panagora Asset Management Inc. grew its position in shares of City Office REIT, Inc. (NYSE:CIO) by 9.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 259,155 shares of the real estate investment trust’s stock after buying an additional 23,155 shares during the quarter. Panagora Asset Management Inc.’s holdings in City Office REIT were worth $3,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of CIO. FMR LLC acquired a new stake in City Office REIT in the 1st quarter worth about $31,000. Point72 Hong Kong Ltd bought a new stake in shares of City Office REIT in the first quarter valued at approximately $49,000. SG Americas Securities LLC acquired a new stake in City Office REIT during the first quarter worth approximately $108,000. Cubist Systematic Strategies LLC bought a new position in City Office REIT during the 1st quarter worth $114,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in City Office REIT by 1,573.8% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 9,189 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 8,640 shares in the last quarter. 71.86% of the stock is owned by institutional investors.
NYSE CIO opened at $17.91 on Friday. The firm’s fifty day moving average price is $14.80 and its two-hundred day moving average price is $12.66. The stock has a market cap of $780.05 million, a PE ratio of 16.90, a PEG ratio of 2.06 and a beta of 1.66. The company has a debt-to-equity ratio of 1.79, a quick ratio of 3.17 and a current ratio of 3.17. City Office REIT, Inc. has a fifty-two week low of $6.12 and a fifty-two week high of $18.42.
In other City Office REIT news, CEO James Thomas Farrar sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $25.50, for a total value of $76,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.
Several equities research analysts recently weighed in on CIO shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of City Office REIT from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, June 25th. Colliers Securities reissued a “buy” rating and issued a $16.00 price objective on shares of City Office REIT in a research note on Monday, August 23rd. Zacks Investment Research cut City Office REIT from a “buy” rating to a “hold” rating in a research note on Thursday, July 15th. B. Riley lifted their price target on City Office REIT from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, August 23rd. Finally, Royal Bank of Canada upped their price objective on City Office REIT from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, August 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, City Office REIT presently has a consensus rating of “Buy” and an average target price of $15.83.
City Office REIT Company Profile
City Office REIT, Inc is a real estate investment trust. It focuses on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. The company was founded on November 26, 2013 and is headquartered in Vancouver, Canada.
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