City Office REIT (CIO) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of City Office REIT (NYSE:CIO) from a hold rating to a buy rating in a report published on Friday.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of City Office REIT from a sell rating to a hold rating in a research note on Wednesday, November 15th. B. Riley reaffirmed a buy rating and issued a $14.50 price target on shares of City Office REIT in a research note on Tuesday, November 7th. Finally, FBR & Co reissued a buy rating on shares of City Office REIT in a research note on Friday, October 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $14.50.

City Office REIT (NYSE:CIO) opened at $12.95 on Friday. The firm has a market cap of $394.92, a PE ratio of 14.66, a P/E/G ratio of 1.52 and a beta of 0.22. City Office REIT has a 12 month low of $11.43 and a 12 month high of $13.93. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.80.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in City Office REIT by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,099,528 shares of the real estate investment trust’s stock worth $15,141,000 after purchasing an additional 47,492 shares in the last quarter. Vanguard Group Inc. lifted its stake in City Office REIT by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,093,747 shares of the real estate investment trust’s stock worth $13,891,000 after purchasing an additional 56,367 shares in the last quarter. LSV Asset Management lifted its stake in City Office REIT by 25.8% in the 2nd quarter. LSV Asset Management now owns 843,506 shares of the real estate investment trust’s stock worth $10,712,000 after purchasing an additional 172,841 shares in the last quarter. Real Estate Management Services LLC lifted its stake in City Office REIT by 38.1% in the 3rd quarter. Real Estate Management Services LLC now owns 670,343 shares of the real estate investment trust’s stock worth $9,231,000 after purchasing an additional 185,016 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in City Office REIT by 7.0% in the 3rd quarter. D.A. Davidson & CO. now owns 598,669 shares of the real estate investment trust’s stock worth $8,243,000 after purchasing an additional 38,950 shares in the last quarter. 57.45% of the stock is currently owned by institutional investors and hedge funds.

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About City Office REIT

City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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