GSA Capital Partners LLP Grows Holdings in City Office REIT, Inc. (NYSE:CIO)

Key Points

• GSA Capital Partners LLP increased its holdings in City Office REIT by 69.1%, owning 122,402 shares valued at $635,000 as of the latest SEC filing.
• City Office REIT's recent earnings report showed an EPS of $0.28, meeting analyst expectations, while its revenue fell slightly short, at $42.20 million.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 5.8%, despite experiencing a negative dividend payout ratio of -12.62%.

GSA Capital Partners LLP increased its holdings in City Office REIT, Inc. (NYSE:CIO - Free Report) by 69.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,402 shares of the real estate investment trust's stock after buying an additional 50,018 shares during the period. GSA Capital Partners LLP owned about 0.30% of City Office REIT worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new stake in City Office REIT in the 4th quarter worth approximately $43,000. Ethic Inc. purchased a new stake in shares of City Office REIT in the 4th quarter valued at approximately $56,000. ProShare Advisors LLC acquired a new position in shares of City Office REIT during the 4th quarter worth $61,000. Summit Global Investments acquired a new position in City Office REIT in the 1st quarter valued at $57,000. Finally, GAMMA Investing LLC lifted its holdings in shares of City Office REIT by 270.7% during the 1st quarter. GAMMA Investing LLC now owns 11,293 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 8,247 shares during the period. 67.47% of the stock is owned by institutional investors and hedge funds.

City Office REIT Price Performance

Shares of CIO traded up $0.01 during midday trading on Thursday, hitting $6.96. 87,539 shares of the company traded hands, compared to its average volume of 288,795. The firm has a market cap of $280.70 million, a P/E ratio of -2.19, a PEG ratio of 1.13 and a beta of 1.73. The stock has a 50-day moving average of $5.72 and a 200-day moving average of $5.24. 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, Inc. has a one year low of $4.19 and a one year high of $6.99.

City Office REIT (NYSE:CIO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $42.20 million during the quarter, compared to the consensus estimate of $42.54 million. City Office REIT had a negative net margin of 71.27% and a negative return on equity of 20.26%. As a group, sell-side analysts predict 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 paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.8%. The ex-dividend date was Thursday, July 10th. City Office REIT's payout ratio is -12.62%.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott restated a "neutral" rating on shares of City Office REIT in a report on Friday, July 25th.

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.