City Office REIT (NYSE:CIO) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• City Office REIT shares have crossed above their 50-day moving average of $6.74, with the stock trading at $6.96 on a volume of 916,210 shares.
• Analysts maintain a "Hold" rating on City Office REIT, projecting the company will post earnings of 1 EPS for the current year, despite a negative net margin of 71.27% in their latest earnings report.
• 67.47% of City Office REIT stock is owned by institutional investors, with several major firms recently increasing their positions in the company.

City Office REIT, Inc. (NYSE:CIO - Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.74 and traded as high as $6.96. City Office REIT shares last traded at $6.96, with a volume of 916,210 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott restated a "neutral" rating on shares of City Office REIT in a research report on Friday, July 25th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold".

City Office REIT Trading Up 0.1%

The firm's 50-day simple moving average is $6.74 and its 200-day simple moving average is $5.66. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $280.70 million, a PE ratio of -2.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.82.

City Office REIT (NYSE:CIO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $42.20 million during the quarter, compared to analyst estimates of $42.54 million. City Office REIT had a negative net margin of 71.27% and a negative return on equity of 20.26%. Equities analysts expect that City Office REIT, Inc. will post 1 earnings per share for the current year.

Institutional Investors Weigh In On City Office REIT

Large investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC purchased a new position in shares of City Office REIT during the first quarter valued at approximately $1,474,000. Millennium Management LLC purchased a new position in shares of City Office REIT during the fourth quarter valued at approximately $1,283,000. Sonora Investment Management Group LLC increased its stake in shares of City Office REIT by 159.8% during the second quarter. Sonora Investment Management Group LLC now owns 328,120 shares of the real estate investment trust's stock valued at $1,752,000 after buying an additional 201,820 shares during the period. Nuveen LLC purchased a new position in shares of City Office REIT during the first quarter valued at approximately $717,000. Finally, AlphaCore Capital LLC purchased a new position in shares of City Office REIT during the second quarter valued at approximately $689,000. 67.47% of the stock is currently owned by institutional investors.

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 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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