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

Key Points

• City Office REIT (CIO) has received a "sell (D+)" rating from Weiss Ratings, reiterating concerns about the stock's performance.
• The company's stock saw a slight increase of 0.1%, trading at $6.94, with analysts predicting a revenue estimate of $42.54 million that was not met, as the company reported $42.20 million for the quarter.
• Institutional investors have been actively modifying their holdings in City Office REIT, with significant stakes raised by firms like PNC Financial Services and Russell Investments Group.

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

Separately, Janney Montgomery Scott reiterated 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce".

City Office REIT Stock Up 0.1%

City Office REIT stock traded up $0.01 during midday trading on Friday, reaching $6.94. The company's stock had a trading volume of 146,543 shares, compared to its average volume of 422,199. The stock's 50-day simple moving average is $6.95 and its 200-day simple moving average is $5.97. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.31 and a quick ratio of 3.31. City Office REIT has a 52-week low of $4.19 and a 52-week high of $7.01. The stock has a market capitalization of $279.90 million, a P/E ratio of -2.19, a PEG ratio of 1.11 and a beta of 1.82.

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 EPS for the quarter, meeting 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 company had revenue of $42.20 million during the quarter, compared to analysts' expectations of $42.54 million. On average, sell-side analysts expect that City Office REIT will post 1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Deutsche Bank AG purchased a new position in shares of City Office REIT in the first quarter worth about $30,000. Russell Investments Group Ltd. raised 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 purchasing an additional 3,013 shares during the last quarter. Strs Ohio purchased a new position in shares of City Office REIT in the first quarter worth about $40,000. PNC Financial Services Group Inc. raised 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 purchasing an additional 5,082 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised 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 purchasing an additional 7,946 shares during the last quarter. 67.47% of the stock is currently owned by hedge funds and other 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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