City Office REIT's (CIO) "Sell (D+)" Rating Reaffirmed at Weiss Ratings

Key Points

• City Office REIT's stock received a reaffirmed "sell (D+)" rating from Weiss Ratings, indicating challenges for the company's performance.
• The company reported earnings of $0.28 per share, meeting analyst expectations, but also showed negative return on equity of 20.26% and a net margin of 71.27%.
• A significant portion of 67.47% of City Office REIT's stock is currently held by institutional investors, reflecting ongoing interest from larger financial stakeholders.

City Office REIT (NYSE:CIO - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Janney Montgomery Scott reissued a "neutral" rating on shares of City Office REIT in a report on Friday, July 25th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce".

City Office REIT Price Performance

Shares of CIO stock remained flat at $6.96 during mid-day trading on Wednesday. The company's stock had a trading volume of 193,511 shares, compared to its average volume of 526,877. The company has a 50 day moving average of $6.95 and a 200 day moving average of $5.82. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 1.29. City Office REIT has a 52 week low of $4.19 and a 52 week high of $7.01. The company has a market capitalization of $280.91 million, a price-to-earnings ratio of -2.20, a PEG ratio of 1.12 and a beta of 1.82.

City Office REIT (NYSE:CIO - Get Free Report) last issued 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. Sell-side analysts forecast that City Office REIT will post 1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management lifted its holdings in shares of City Office REIT by 6.5% in the second quarter. LSV Asset Management now owns 1,582,009 shares of the real estate investment trust's stock valued at $8,448,000 after purchasing an additional 96,329 shares in the last quarter. Acadian Asset Management LLC raised its holdings in City Office REIT by 0.6% during the second 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 in the last quarter. Sonora Investment Management Group LLC raised its holdings in 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 worth $1,752,000 after acquiring an additional 201,820 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in City Office REIT during the first quarter worth about $1,474,000. Finally, Penserra Capital Management LLC increased its position in City Office REIT by 21.0% during the first quarter. Penserra Capital Management LLC now owns 215,877 shares of the real estate investment trust's stock worth $1,120,000 after buying an additional 37,524 shares during the last quarter. 67.47% of the stock is currently owned by institutional investors.

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.

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