Janney Montgomery Scott Reaffirms Neutral Rating for City Office REIT (NYSE:CIO)

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 analysts at Janney Montgomery Scott in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

City Office REIT Stock Performance

NYSE CIO traded up $0.02 on Friday, reaching $6.92. 1,567,902 shares of the stock were exchanged, compared to its average volume of 679,628. 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 one year low of $4.19 and a one year high of $6.93. The firm has a market capitalization of $279.09 million, a PE ratio of -10.64, a PEG ratio of 1.12 and a beta of 1.65. The company's 50-day simple moving average is $5.38 and its two-hundred day simple moving average is $5.14.

City Office REIT (NYSE:CIO - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The real estate investment trust reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $42.26 million for the quarter, compared to the consensus estimate of $42.38 million. City Office REIT had a negative net margin of 11.11% and a negative return on equity of 2.98%. Analysts expect that City Office REIT will post 1 EPS for the current fiscal year.

Institutional Trading of City Office REIT

Institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC bought a new position in shares of City Office REIT during the 4th quarter valued at about $105,000. Prudential Financial Inc. lifted its position in shares of City Office REIT by 6.2% in the fourth quarter. Prudential Financial Inc. now owns 85,425 shares of the real estate investment trust's stock worth $472,000 after buying an additional 5,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in City Office REIT by 9.8% during the fourth quarter. JPMorgan Chase & Co. now owns 399,820 shares of the real estate investment trust's stock valued at $2,207,000 after buying an additional 35,727 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in City Office REIT during the 4th quarter valued at approximately $89,000. Finally, Wells Fargo & Company MN increased its stake in City Office REIT by 27.7% in 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 last quarter. Hedge funds and other institutional investors own 67.47% of the company's stock.

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.