City Office REIT (NYSE:CIO) Given Neutral Rating at Janney Montgomery Scott

Key Points

• City Office REIT's stock maintains a "neutral" rating, as reiterated by Janney Montgomery Scott in a recent research note.
• The company reported an earnings per share (EPS) of $0.30 for the last quarter, surpassing analysts' expectations of $0.27.
• City Office REIT currently has a debt-to-equity ratio of 1.05 and is primarily focused on acquiring high-quality office properties in Sun Belt markets.

City Office REIT (NYSE:CIO - Get Free Report)'s stock had its "neutral" rating reiterated by Janney Montgomery Scott in a research report issued to clients and investors on Friday, MarketBeat reports.

City Office REIT Trading Up 0.2%

City Office REIT stock traded up $0.02 during mid-day trading on Friday, hitting $6.94. The stock had a trading volume of 1,024,117 shares, compared to its average volume of 273,490. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 1.05. City Office REIT has a 12 month low of $4.19 and a 12 month high of $6.95. The stock has a market capitalization of $279.90 million, a PE ratio of -10.67, a P/E/G ratio of 1.12 and a beta of 1.65. The stock has a 50-day simple moving average of $5.50 and a two-hundred day simple moving average of $5.18.

City Office REIT (NYSE:CIO - Get Free Report) last issued its earnings results on Friday, May 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.03. City Office REIT had a negative return on equity of 2.98% and a negative net margin of 11.11%. The firm had revenue of $42.26 million for the quarter, compared to analysts' expectations of $42.38 million. As a group, sell-side analysts forecast that City Office REIT will post 1 EPS for the current year.

Institutional Investors Weigh In On City Office REIT

Hedge funds have recently modified their holdings of the business. Intech Investment Management LLC acquired a new position in shares of City Office REIT during the 4th quarter worth approximately $105,000. Prudential Financial Inc. boosted its stake in shares of City Office REIT by 6.2% during the 4th quarter. Prudential Financial Inc. now owns 85,425 shares of the real estate investment trust's stock worth $472,000 after acquiring an additional 5,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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 period. Resona Asset Management Co. Ltd. bought a new position in shares of City Office REIT during the 4th quarter worth approximately $89,000. Finally, Wells Fargo & Company MN boosted its stake in shares of City Office REIT by 27.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,994 shares of the real estate investment trust's stock worth $132,000 after acquiring an additional 5,205 shares during the period. Institutional investors and hedge funds own 67.47% of the company's stock.

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.