City Office REIT Inc (NYSE:CIO) Director Mark Wilhelm Murski purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was bought at an average price of $12.01 per share, with a total value of $60,050.00. Following the completion of the purchase, the director now owns 9,000 shares of the company’s stock, valued at approximately $108,090. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of City Office REIT Inc (NYSE:CIO) traded down 0.08% on Monday, reaching $11.98. 119,094 shares of the company’s stock traded hands. The firm’s market cap is $361.46 million. The company’s 50-day moving average price is $12.68 and its 200 day moving average price is $12.65. City Office REIT Inc has a one year low of $11.01 and a one year high of $13.93.
City Office REIT (NYSE:CIO) last posted its quarterly earnings data on Thursday, March 2nd. The company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.03. The firm earned $21.30 million during the quarter, compared to analyst estimates of $20.99 million. City Office REIT had a net margin of 1.33% and a return on equity of 0.79%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. On average, equities analysts forecast that City Office REIT Inc will post ($0.61) EPS for the current fiscal year.
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A number of large investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in City Office REIT by 887.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,655 shares of the company’s stock valued at $101,000 after buying an additional 6,880 shares during the period. Royal Bank of Canada raised its stake in shares of City Office REIT by 163.8% in the second quarter. Royal Bank of Canada now owns 12,400 shares of the company’s stock valued at $161,000 after buying an additional 7,700 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of City Office REIT by 8.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,400 shares of the company’s stock valued at $163,000 after buying an additional 1,000 shares during the last quarter. Baird Financial Group Inc. bought a new stake in shares of City Office REIT during the fourth quarter valued at about $171,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of City Office REIT during the fourth quarter valued at about $182,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.
CIO has been the subject of several recent research reports. TheStreet upgraded City Office REIT from a “d” rating to a “c-” rating in a research note on Thursday, March 2nd. Deutsche Bank AG cut their price target on City Office REIT from $15.50 to $14.00 and set a “buy” rating for the company in a research note on Monday. Zacks Investment Research cut City Office REIT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 11th. Finally, Raymond James Financial, Inc. began coverage on shares of City Office REIT in a research report on Wednesday, March 1st. They set a “market perform” rating for the company. One equities research 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’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.70.
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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