Millennium Management LLC Buys New Shares in City Office REIT, Inc. (NYSE:CIO)

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

Several other hedge funds also recently bought and sold shares of CIO. Lazard Asset Management LLC increased 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 buying an additional 37,758 shares in the last quarter. Ethic Inc. acquired a new position in City Office REIT in the fourth quarter valued at about $56,000. D. E. Shaw & Co. Inc. grew its stake in City Office REIT by 21.2% in the fourth 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 stake in shares of City Office REIT in the fourth quarter worth about $364,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of City Office REIT by 55.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 75,805 shares of the real estate investment trust's stock worth $418,000 after purchasing 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 Up 1.7%

Shares of NYSE:CIO traded up $0.09 during trading on Friday, hitting $5.18. 159,714 shares of the company's stock traded hands, compared to its average volume of 197,618. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average price of $4.86 and a 200-day moving average price of $5.13. City Office REIT, Inc. has a 52 week low of $4.19 and a 52 week high of $6.50. The company has a market cap of $209.01 million, a price-to-earnings ratio of -8.35, a price-to-earnings-growth ratio of 0.86 and a beta of 1.65.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.03. City Office REIT had a negative net margin of 10.33% and a negative return on equity of 2.74%. The firm had revenue of $42.26 million during the quarter, compared to analyst estimates of $42.38 million. As a group, research analysts forecast that City Office REIT, Inc. will post 1 EPS for the current fiscal year.

City Office REIT Dividend Announcement

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. The ex-dividend date was Thursday, April 10th. This represents a $0.40 annualized dividend and a yield of 7.72%. City Office REIT's payout ratio is presently -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.