Aptus Capital Advisors LLC Increases Position in City Office REIT, Inc. (NYSE:CIO)

Aptus Capital Advisors LLC raised its position in City Office REIT, Inc. (NYSE:CIO – Get Rating) by 6.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 131,764 shares of the real estate investment trust’s stock after acquiring an additional 8,400 shares during the period. Aptus Capital Advisors LLC owned approximately 0.30% of City Office REIT worth $2,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CIO. Russell Investments Group Ltd. purchased a new stake in City Office REIT in the fourth quarter valued at approximately $471,000. Allspring Global Investments Holdings LLC purchased a new stake in City Office REIT during the fourth quarter valued at about $2,980,000. State of New Jersey Common Pension Fund D increased its holdings in City Office REIT by 50.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 286,711 shares of the real estate investment trust’s stock worth $5,654,000 after buying an additional 96,211 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in City Office REIT by 11.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 37,200 shares of the real estate investment trust’s stock worth $734,000 after purchasing an additional 3,700 shares during the period. Finally, Cambria Investment Management L.P. bought a new position in City Office REIT in the fourth quarter worth $260,000. Institutional investors and hedge funds own 76.79% of the company’s stock.

City Office REIT Stock Down 1.3 %

City Office REIT stock opened at $13.51 on Thursday. The firm has a market capitalization of $588.36 million, a P/E ratio of 1.32, a P/E/G ratio of 1.52 and a beta of 1.56. The company has a 50-day simple moving average of $12.93 and a 200-day simple moving average of $15.51. City Office REIT, Inc. has a one year low of $11.05 and a one year high of $21.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.76 and a current ratio of 3.76.

City Office REIT (NYSE:CIO – Get Rating) last issued its earnings results on Thursday, May 5th. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.36 by $0.15. City Office REIT had a return on equity of 83.29% and a net margin of 271.64%. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, equities analysts expect that City Office REIT, Inc. will post 1.5 earnings per share for the current year.

City Office REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Friday, July 8th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 5.92%. City Office REIT’s payout ratio is 7.80%.

Wall Street Analysts Forecast Growth

CIO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut their target price on City Office REIT from $18.00 to $15.00 in a research note on Wednesday, July 20th. StockNews.com raised City Office REIT from a “hold” rating to a “buy” rating in a research note on Friday, May 6th. Royal Bank of Canada dropped their price target on City Office REIT from $18.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 12th. Finally, B. Riley cut their price target on City Office REIT from $22.00 to $20.00 in a research note on Monday, May 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.50.

About City Office REIT

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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 September 30, 2020, CIO owned office complexes comprising 5.8 million square feet of net rentable area (NRA).