Summit Global Investments bought a new stake in City Office REIT, Inc. (NYSE:CIO – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,900 shares of the real estate investment trust’s stock, valued at approximately $150,000. Summit Global Investments owned about 0.07% of City Office REIT as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. State of Wyoming purchased a new stake in shares of City Office REIT in the fourth quarter valued at about $26,000. Point72 Middle East FZE purchased a new position in shares of City Office REIT in the fourth quarter valued at approximately $28,000. Lazard Asset Management LLC purchased a new position in shares of City Office REIT in the first quarter valued at approximately $39,000. Tower Research Capital LLC TRC boosted its stake in shares of City Office REIT by 736.0% in the third 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. Finally, Quarry LP boosted its stake in shares of City Office REIT by 2,533.6% in the first quarter. Quarry LP now owns 6,821 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,562 shares during the period. 70.55% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CIO has been the topic of several analyst reports. StockNews.com initiated coverage on shares of City Office REIT in a report on Thursday, August 17th. They issued a “sell” rating on the stock. KeyCorp initiated coverage on shares of City Office REIT in a report on Monday, September 11th. They set a “sector weight” rating on the stock.
City Office REIT Stock Performance
NYSE CIO opened at $4.25 on Monday. City Office REIT, Inc. has a 12 month low of $3.92 and a 12 month high of $10.80. The company has a 50-day moving average of $4.98 and a 200-day moving average of $5.41. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.00.
City Office REIT Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date is Friday, October 6th. City Office REIT’s dividend payout ratio is presently -88.89%.
About City Office REIT
City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 6.0 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.
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