City Office REIT (NYSE:CIO) Share Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• City Office REIT's stock price recently surpassed its **50-day moving average**, reaching a high of **$6.96** during trading, which closed at **$6.95**.
• The company declared a **quarterly dividend** of **$0.10**, translating to an **annualized dividend** of **$0.40** and a dividend yield of **5.8%**.
• Institutional investors own **67.47%** of City Office REIT's stock, with Price T Rowe Associates and Wedbush Securities among those increasing their stakes recently.

Shares of City Office REIT, Inc. (NYSE:CIO - Get Free Report) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.84 and traded as high as $6.96. City Office REIT shares last traded at $6.95, with a volume of 386,568 shares trading hands.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott reaffirmed a "neutral" rating on shares of City Office REIT in a research note on Friday, July 25th.

City Office REIT Stock Performance

The business has a 50 day moving average of $5.99 and a 200-day moving average of $5.33. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $279.69 million, a P/E ratio of -2.19, a PEG ratio of 1.12 and a beta of 1.73.

City Office REIT (NYSE:CIO - Get Free Report) last posted its earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $42.54 million. Analysts anticipate that City Office REIT, Inc. will post 1 EPS for the current fiscal year.

City Office REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid 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 of this dividend was Thursday, July 10th. City Office REIT's dividend payout ratio is presently -12.62%.

Institutional Trading of City Office REIT

Large investors have recently bought and sold shares of the business. LSV Asset Management boosted its position in City Office REIT by 6.5% during the 2nd quarter. LSV Asset Management now owns 1,582,009 shares of the real estate investment trust's stock worth $8,448,000 after acquiring an additional 96,329 shares during the last quarter. Renaissance Technologies LLC boosted its position in City Office REIT by 1.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,280,960 shares of the real estate investment trust's stock worth $7,071,000 after acquiring an additional 15,544 shares during the last quarter. Acadian Asset Management LLC boosted its position in City Office REIT by 0.6% during the 2nd quarter. Acadian Asset Management LLC now owns 777,348 shares of the real estate investment trust's stock worth $4,149,000 after acquiring an additional 4,784 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in City Office REIT by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 421,626 shares of the real estate investment trust's stock worth $2,327,000 after acquiring an additional 73,722 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in City Office REIT by 9.8% during the 4th quarter. JPMorgan Chase & Co. now owns 399,820 shares of the real estate investment trust's stock worth $2,207,000 after acquiring an additional 35,727 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.