Price T Rowe Associates Inc. MD Buys 2,806 Shares of City Office REIT, Inc. (NYSE:CIO)

Price T Rowe Associates Inc. MD increased its stake in shares of City Office REIT, Inc. (NYSE:CIO) by 21.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,975 shares of the real estate investment trust’s stock after purchasing an additional 2,806 shares during the period. Price T Rowe Associates Inc. MD’s holdings in City Office REIT were worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CIO. Russell Investments Group Ltd. lifted its holdings in shares of City Office REIT by 146.9% in the 4th quarter. Russell Investments Group Ltd. now owns 12,048 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 7,168 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in City Office REIT during the 4th quarter valued at about $89,000. Hsbc Holdings PLC boosted its stake in City Office REIT by 68.6% in the 4th quarter. Hsbc Holdings PLC now owns 17,054 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 6,937 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in City Office REIT in the 4th quarter worth approximately $104,000. Finally, Intech Investment Management LLC acquired a new stake in City Office REIT during the 4th quarter valued at approximately $105,000. Institutional investors own 67.47% of the company’s stock.

City Office REIT Price Performance

NYSE:CIO opened at $4.95 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a market cap of $199.77 million, a price-to-earnings ratio of -7.98, a price-to-earnings-growth ratio of 0.86 and a beta of 1.65. The company has a 50 day moving average price of $4.93 and a 200-day moving average price of $5.16. City Office REIT, Inc. has a 1-year low of $4.19 and a 1-year high of $6.50.

City Office REIT (NYSE:CIO) last issued its quarterly earnings results on Friday, May 2nd. The real estate investment trust reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. City Office REIT had a negative net margin of 10.33% and a negative return on equity of 2.74%. The company had revenue of $42.26 million during the quarter, compared to analyst estimates of $42.38 million. Equities research analysts forecast that City Office REIT, Inc. will post 1 EPS for the current year.

City Office REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date was Thursday, April 10th. City Office REIT’s dividend payout ratio is currently -61.54%.

City Office REIT Profile

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 5.7 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.