City Office REIT, Inc. (NYSE:CIO) Short Interest Up 30.2% in August

Key Points

• City Office REIT experienced a 30.2% increase in short interest in August, with a total of 489,600 shares sold short, reflecting growing bearish sentiment.
• The company reported an earnings per share (EPS) of $0.28 for the last quarter, matching analyst expectations, but has a negative return on equity of 20.26% and a negative net margin of 71.27%.
• City Office REIT announced a quarterly dividend of $0.10 per share, with an annualized yield of 5.8%, despite having a negative dividend payout ratio of -12.62%.

City Office REIT, Inc. (NYSE:CIO - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 489,600 shares, anincreaseof30.2% from the July 31st total of 376,000 shares. Currently,1.3% of the shares of the stock are sold short. Based on an average trading volume of 463,500 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 463,500 shares, the days-to-cover ratio is currently 1.1 days. Currently,1.3% of the shares of the stock are sold short.

City Office REIT Stock Up 0.1%

Shares of NYSE CIO traded up $0.01 during mid-day trading on Tuesday, hitting $6.95. 401,250 shares of the stock traded hands, compared to its average volume of 293,265. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.31 and a current ratio of 3.31. City Office REIT has a 52 week low of $4.19 and a 52 week high of $6.99. The company has a market cap of $280.33 million, a price-to-earnings ratio of -2.19, a PEG ratio of 1.12 and a beta of 1.82. The stock has a fifty day moving average price of $6.48 and a 200-day moving average price of $5.53.

City Office REIT (NYSE:CIO - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. City Office REIT had a negative return on equity of 20.26% and a negative net margin of 71.27%.The business had revenue of $42.20 million for the quarter, compared to the consensus estimate of $42.54 million. Research analysts anticipate that City Office REIT 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, July 24th. Investors of record on Thursday, July 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Thursday, July 10th. City Office REIT's dividend payout ratio is -12.62%.

Institutional Trading of City Office REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of CIO. Segall Bryant & Hamill LLC bought a new stake in shares of City Office REIT in the 1st quarter valued at approximately $1,474,000. Bank of America Corp DE raised its position in City Office REIT by 66.7% during the 4th quarter. Bank of America Corp DE now owns 38,606 shares of the real estate investment trust's stock valued at $213,000 after purchasing an additional 15,446 shares in the last quarter. Man Group plc bought a new stake in City Office REIT during the 4th quarter valued at $425,000. Two Sigma Investments LP raised its position in City Office REIT by 59.5% during the 4th quarter. Two Sigma Investments LP now owns 148,192 shares of the real estate investment trust's stock valued at $818,000 after purchasing an additional 55,258 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in City Office REIT during the 4th quarter valued at $1,283,000. Hedge funds and other institutional investors own 67.47% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott reaffirmed a "neutral" rating on shares of City Office REIT in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

City Office REIT Company 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.

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