Connor Clark & Lunn Investment Management Ltd. Has $66,000 Stock Holdings in City Office REIT, Inc. $CIO

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its stake in City Office REIT, selling 82,624 shares and leaving them with only 12,693 shares, representing an 86.7% decrease.
• City Office REIT recently declared a quarterly dividend of $0.10 per share, resulting in a 5.8% annualized yield, despite having a negative net margin of 71.27% for the quarter.
• Institutional investors collectively own 67.47% of City Office REIT's stock, indicating strong institutional interest in the company.

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of City Office REIT, Inc. (NYSE:CIO - Free Report) by 86.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,693 shares of the real estate investment trust's stock after selling 82,624 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in City Office REIT were worth $66,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Segall Bryant & Hamill LLC bought a new stake in City Office REIT during the 1st quarter worth $1,474,000. Bank of America Corp DE grew its position in City Office REIT by 66.7% during the 4th quarter. Bank of America Corp DE now owns 38,606 shares of the real estate investment trust's stock worth $213,000 after acquiring an additional 15,446 shares during the last quarter. Man Group plc bought a new stake in City Office REIT during the 4th quarter worth $425,000. Two Sigma Investments LP grew its position in City Office REIT by 59.5% during the 4th quarter. Two Sigma Investments LP now owns 148,192 shares of the real estate investment trust's stock worth $818,000 after acquiring an additional 55,258 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in City Office REIT during the 4th quarter worth $1,283,000. Institutional investors own 67.47% of the company's stock.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott restated a "neutral" rating on shares of City Office REIT in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold".

City Office REIT Trading Up 0.1%

CIO traded up $0.01 during midday trading on Tuesday, hitting $6.94. 398,694 shares of the company were exchanged, compared to its average volume of 520,002. The firm has a market capitalization of $279.90 million, a P/E ratio of -2.19, a P/E/G ratio of 1.12 and a beta of 1.73. City Office REIT, Inc. has a 1-year low of $4.19 and a 1-year high of $6.99. The firm's 50 day moving average price is $6.21 and its 200-day moving average price is $5.41. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 1.29.

City Office REIT (NYSE:CIO - Get Free Report) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $42.20 million for the quarter, compared to the consensus estimate of $42.54 million. City Office REIT had a negative return on equity of 20.26% and a negative net margin of 71.27%. As a group, equities analysts forecast that City Office REIT, Inc. will post 1 EPS for the current fiscal year.

City Office REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.40 annualized dividend and a yield of 5.8%. City Office REIT's payout ratio is presently -12.62%.

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.