Fifth Third Bancorp Makes New $297,000 Investment in City Office REIT, Inc. (NYSE:CIO)

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Fifth Third Bancorp purchased a new position in City Office REIT, Inc. (NYSE: CIOGet Rating) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 16,833 shares of the real estate investment trust’s stock, valued at approximately $ 297,000.

Other hedge funds also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new stake in City Office REIT in the 4th quarter worth $ 223,000. Squarepoint Ops LLC bought a new stake in shares of City Office REIT in the 3rd quarter worth about $ 232,000. Diversified Trust Co bought a new stake in shares of City Office REIT in the 1st quarter worth about $ 243,000. Daiwa Securities Group Inc. increased its holdings in shares of City Office REIT by 10.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 12,477 shares of the real estate investment trust’s stock worth $ 246,000 after buying an additional 1,135 shares during the last quarter. Finally, Cambria Investment Management LP bought a new stake in shares of City Office REIT in the 4th quarter worth about $ 260,000. Institutional investors and hedge funds own 76.79% of the company’s stock.

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a report on Friday, May 6th. B. Riley cut their price target on shares of City Office REIT from $ 22.00 to $ 20.00 in a report on Monday, May 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of City Office REIT from $ 23.00 to $ 18.00 and set a “hold” rating on the stock in a report on Thursday, April 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, City Office REIT has a consensus rating of “Moderate Buy” and a consensus target price of $ 18.25.

Shares of NYSE: CIO opened at $ 12.72 on Friday. The company has a market capitalization of $ 553.96 million, a price-to-earnings ratio of 1.24, a PEG ratio of 1.47 and a beta of 1.56. City Office REIT, Inc. has a 12 month low of $ 11.05 and a 12 month high of $ 21.70. The firm’s 50-day moving average is $ 13.16 and its 200 day moving average is $ 16.17. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.85.

City Office REIT (NYSE: CIOGet Rating) last released its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $ 0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.36 by $ 0.15. City Office REIT had a net margin of 271.64% and a return on equity of 83.29%. During the same period in the previous year, the business posted $ 0.33 earnings per share. As a group, equities analysts forecast that City Office REIT, Inc. will post 1.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Shareholders of record on Friday, July 8th will be given a $ 0.20 dividend. The ex-dividend date is Thursday, July 7th. This represents a $ 0.80 annualized dividend and a yield of 6.29%. City Office REIT’s dividend payout ratio (DPR) is 7.80%.

About City Office REIT (Get Rating)

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).

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Want to see what other hedge funds are holding CIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for City Office REIT, Inc. (NYSE: CIOGet Rating).

Institutional Ownership by Quarter for City Office REIT (NYSE: CIO)



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