The stock of City Office REIT Inc (NYSE:CIO) is a huge mover today! The stock decreased 3.01% or $0.38 on October 5, hitting $12.24. City Office REIT Inc (NYSE:CIO) has risen 3.44% since March 2, 2016 and is uptrending. It has underperformed by 4.82% the S&P500.
The move comes after 7 months negative chart setup for the $302.72M company. It was reported on Oct, 5 by Barchart.com. We have $10.65 PT which if reached, will make NYSE:CIO worth $39.35M less.
Analysts await City Office REIT Inc (NYSE:CIO) to report earnings on November, 4. They expect $0.24 earnings per share, down 27.27% or $0.09 from last year’s $0.33 per share. CIO’s profit will be $5.94 million for 12.75 P/E if the $0.24 EPS becomes a reality. After $0.22 actual earnings per share reported by City Office REIT Inc for the previous quarter, Wall Street now forecasts 9.09% EPS growth.
City Office REIT Inc (NYSE:CIO) Ratings Coverage
Out of 4 analysts covering City Office REIT (NYSE:CIO), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. City Office REIT has been the topic of 7 analyst reports since August 19, 2015 according to StockzIntelligence Inc. Wunderlich maintained the shares of CIO in a report on Friday, August 5 with “Buy” rating. The firm has “Buy” rating given on Thursday, May 12 by Compass Point. Zacks upgraded the stock to “Sell” rating in Monday, August 24 report. The stock of City Office REIT Inc (NYSE:CIO) has “Buy” rating given on Tuesday, May 31 by Deutsche Bank. The stock of City Office REIT Inc (NYSE:CIO) has “Buy” rating given on Friday, August 5 by Compass Point. On Wednesday, August 19 the stock rating was maintained by Oppenheimer with “Outperform”. The stock of City Office REIT Inc (NYSE:CIO) earned “Buy” rating by Deutsche Bank on Monday, July 18.
According to Zacks Investment Research, “City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning, and operating office properties in the United States. The Company invests in properties located in metropolitan areas in the Southern and Western United States. City Office REIT, Inc. is based in Vancouver, Canada.”
Insitutional Activity: The institutional sentiment decreased to 1.94 in Q2 2016. Its down 0.10, from 2.04 in 2016Q1. The ratio fall, as 18 funds sold all City Office REIT Inc shares owned while 13 reduced positions. 28 funds bought stakes while 32 increased positions. They now own 10.06 million shares or 24.57% more from 8.07 million shares in 2016Q1.
Sumitomo Mitsui Hldgs holds 0% or 11,966 shares in its portfolio. Daiwa Group Inc, a Japan-based fund reported 700 shares. Forward Mngmt Limited Liability has 103,600 shares for 0.11% of their US portfolio. Voya Mngmt Ltd Com holds 0% of its portfolio in City Office REIT Inc (NYSE:CIO) for 12,842 shares. Parametric Associates Limited Com last reported 16,793 shares in the company. Morgan Stanley holds 0% or 4,000 shares in its portfolio. Rhumbline Advisers has 15,609 shares for 0% of their US portfolio. Moreover, State Of New Jersey Common Pension Fund D has 0.02% invested in City Office REIT Inc (NYSE:CIO) for 288,000 shares. State Street holds 212,472 shares or 0% of its portfolio. Independent Order Of Foresters last reported 0.17% of its portfolio in the stock. Schwab Charles Mngmt, a California-based fund reported 28,800 shares. Ardsley Advisory holds 834,200 shares or 1.88% of its portfolio. White Pine Capital Lc accumulated 85,175 shares or 0.47% of the stock. Blackrock last reported 771 shares in the company. Northern Tru holds 70,690 shares or 0% of its portfolio.
More notable recent City Office REIT Inc (NYSE:CIO) news were published by: Nasdaq.com which released: “City Office REIT, Inc. (CIO) Ex-Dividend Date Scheduled for October 06, 2016” on October 05, 2016, also Prnewswire.com with their article: “City Office REIT Announces Dividend for Third Quarter 2016” published on September 15, 2016, Prnewswire.com published: “City Office REIT Announces OP Unit Redemption and Addition of Jeffrey Kohn to …” on July 15, 2016. More interesting news about City Office REIT Inc (NYSE:CIO) were released by: Prnewswire.com and their article: “City Office REIT, Inc. Announces Closing of Management Internalization” published on February 01, 2016 as well as Prnewswire.com‘s news article titled: “City Office REIT Announces Management Internalization” with publication date: November 02, 2015.
CIO Company Profile
City Office REIT, Inc., incorporated on November 26, 2013, is focused on acquiring, owning and operating Class A and B office properties located within its target markets in the United States. The Firm operates in the office properties segment. The Firm has over 10 primary target markets, which are located in metropolitan areas in the Southern and Western United States. The Firm owns over 10 office complexes consisting of over 30 office buildings with a total area of approximately 3.3 million square feet of net rentable area (NRA) in the metropolitan areas of Boise (Idaho), Denver (Colorado), Portland (Oregon), Tampa (Florida), Allentown (Pennsylvania), Dallas (Texas) and Orlando (FLorida). Approximately 49.1% of the base rental revenue from its properties is derived from tenants in these markets that are federal or state government agencies or investment grade tenants.
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