232,507 Shares in City Office REIT, Inc. (NYSE:CIO) Purchased by Millennium Management LLC

Millennium Management LLC purchased a new stake in City Office REIT, Inc. (NYSE:CIO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 232,507 shares of the real estate investment trust's stock, valued at approximately $1,283,000. Millennium Management LLC owned about 0.58% of City Office REIT at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its position in shares of City Office REIT by 118.5% in the 4th quarter. Lazard Asset Management LLC now owns 69,617 shares of the real estate investment trust's stock valued at $384,000 after acquiring an additional 37,758 shares during the period. Ethic Inc. bought a new position in shares of City Office REIT in the 4th quarter valued at about $56,000. D. E. Shaw & Co. Inc. grew its position in shares of City Office REIT by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 421,626 shares of the real estate investment trust's stock valued at $2,327,000 after acquiring an additional 73,722 shares during the period. DigitalBridge Group Inc. bought a new position in shares of City Office REIT in the 4th quarter valued at about $364,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of City Office REIT by 55.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 75,805 shares of the real estate investment trust's stock valued at $418,000 after acquiring an additional 27,007 shares during the period. 67.47% of the stock is currently owned by institutional investors and hedge funds.

City Office REIT Stock Performance

Shares of CIO traded up $0.09 during midday trading on Friday, reaching $5.18. The stock had a trading volume of 159,714 shares, compared to its average volume of 198,362. The firm has a 50 day simple moving average of $4.87 and a 200-day simple moving average of $5.13. City Office REIT, Inc. has a one year low of $4.19 and a one year high of $6.50. The firm has a market cap of $209.01 million, a PE ratio of -8.35, a P/E/G ratio of 0.86 and a beta of 1.64. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.02.

City Office REIT (NYSE:CIO - Get Free Report) last announced its earnings results on Friday, May 2nd. The real estate investment trust reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $42.26 million during the quarter, compared to the consensus estimate of $42.38 million. City Office REIT had a negative net margin of 10.33% and a negative return on equity of 2.74%. As a group, sell-side analysts anticipate that City Office REIT, Inc. will post 1 EPS for the current year.

City Office REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.72%. The ex-dividend date of this dividend was Thursday, April 10th. City Office REIT's payout ratio is -61.54%.

City Office REIT 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.