HRT Financial LP Acquires 10,785 Shares of City Office REIT, Inc. (NYSE:CIO)

Posted by Defense World Staff on Jun 7th, 2023

HRT Financial LP increased its position in shares of City Office REIT, Inc. (NYSE:CIO – Get Rating) by 40.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,399 shares of the real estate investment trust’s stock after purchasing an additional 10,785 shares during the period. HRT Financial LP owned 0.09% of City Office REIT worth $313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of City Office REIT during the 1st quarter valued at $39,000. Tower Research Capital LLC TRC raised its position in shares of City Office REIT by 736.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,247 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 3,739 shares during the period. Point72 Hong Kong Ltd raised its position in shares of City Office REIT by 25.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 4,736 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 957 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of City Office REIT by 23.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,533 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,437 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of City Office REIT by 223.4% during the 2nd quarter. Quantbot Technologies LP now owns 5,174 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 3,574 shares during the period. 76.80% of the stock is currently owned by institutional investors.

City Office REIT Stock Performance

Shares of NYSE:CIO opened at $5.25 on Wednesday. City Office REIT, Inc. has a 52 week low of $4.03 and a 52 week high of $14.24. The stock has a market capitalization of $209.69 million, a P/E ratio of -14.19, a PEG ratio of 0.64 and a beta of 1.62. The firm has a fifty day simple moving average of $5.53 and a two-hundred day simple moving average of $7.64. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 1.04.

City Office REIT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be paid a $0.10 dividend. The ex-dividend date is Thursday, July 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.62%. City Office REIT’s payout ratio is currently -216.21%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CIO. Royal Bank of Canada decreased their price objective on shares of City Office REIT from $10.00 to $7.00 in a research report on Tuesday, May 30th. StockNews.com upgraded shares of City Office REIT from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. Finally, B. Riley reduced their price target on shares of City Office REIT from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, February 27th.

About City Office REIT

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City Office REIT, Inc is a real estate investment trust. It focuses on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. The company was founded on November 26, 2013 and is headquartered in Vancouver, Canada.