City Office REIT (NYSE:CIO) Shares Pass Above Fifty Day Moving Average - Time to Sell?

Key Points

• City Office REIT's share price has crossed its 50-day moving average of $6.95, reaching a trading high of $6.97.
• Brokerages have given City Office REIT a mixed outlook, with Weiss Ratings maintaining a "sell (d+)" rating while Janney Montgomery Scott has a "neutral" rating.
• The company's negative return on equity stands at 20.26% with a quarterly revenue of $42.20 million, falling short of analyst expectations.

City Office REIT, Inc. (NYSE:CIO - Get Free Report)'s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.95 and traded as high as $6.97. City Office REIT shares last traded at $6.96, with a volume of 730,771 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on CIO. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of City Office REIT in a research note on Wednesday. Janney Montgomery Scott reissued 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 and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce".

City Office REIT Stock Down 0.1%

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 company has a market capitalization of $280.70 million, a P/E ratio of -2.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.82. The company has a 50-day moving average of $6.95 and a two-hundred day moving average of $5.83.

City Office REIT (NYSE:CIO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting 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 company had revenue of $42.20 million for the quarter, compared to analyst estimates of $42.54 million. On average, research analysts predict that City Office REIT, Inc. will post 1 EPS for the current year.

Institutional Investors Weigh In On City Office REIT

Several hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new stake in shares of City Office REIT in the first quarter worth $30,000. Russell Investments Group Ltd. grew its stake in shares of City Office REIT by 71.4% in the second quarter. Russell Investments Group Ltd. now owns 7,230 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 3,013 shares during the last quarter. Strs Ohio purchased a new stake in shares of City Office REIT in the first quarter worth $40,000. PNC Financial Services Group Inc. grew its stake in shares of City Office REIT by 134.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,869 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 5,082 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of City Office REIT by 473.8% in the second quarter. Tower Research Capital LLC TRC now owns 9,623 shares of the real estate investment trust's stock worth $51,000 after acquiring an additional 7,946 shares during the last quarter. 67.47% of the stock is 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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