Nuveen LLC Purchases New Shares in City Office REIT, Inc. $CIO

Key Points

• Nuveen LLC has acquired a new stake in City Office REIT, purchasing 138,161 shares valued at approximately $717,000, which represents about 0.34% of the company's total shares.
• City Office REIT recently reported $0.28 earnings per share for the quarter, matching analysts' expectations, but had a negative return on equity of 20.26% and a negative net margin of 71.27%.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 5.8%, despite a negative dividend payout ratio of -12.62%.

Nuveen LLC purchased a new position in City Office REIT, Inc. (NYSE:CIO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 138,161 shares of the real estate investment trust's stock, valued at approximately $717,000. Nuveen LLC owned approximately 0.34% of City Office REIT as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of CIO. Segall Bryant & Hamill LLC acquired a new position in City Office REIT during the first quarter worth approximately $1,474,000. Millennium Management LLC acquired a new stake in City Office REIT during the 4th quarter worth approximately $1,283,000. Jane Street Group LLC grew its position in City Office REIT by 284.6% in the fourth quarter. Jane Street Group LLC now owns 211,484 shares of the real estate investment trust's stock valued at $1,167,000 after acquiring an additional 156,497 shares in the last quarter. Sonora Investment Management Group LLC bought a new position in City Office REIT during the first quarter worth $655,000. Finally, Man Group plc bought a new stake in City Office REIT in the fourth quarter valued at $425,000. Hedge funds and other institutional investors own 67.47% of the company's stock.

Analyst Ratings Changes

Separately, Janney Montgomery Scott reissued a "neutral" rating on shares of City Office REIT in a research note on Friday, July 25th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, City Office REIT presently has an average rating of "Hold".

City Office REIT Stock Performance

Shares of NYSE CIO traded down $0.01 during mid-day trading on Monday, hitting $6.94. The company had a trading volume of 37,534 shares, compared to its average volume of 290,507. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 1.29. The stock's 50-day moving average price is $6.45 and its 200-day moving average price is $5.52. City Office REIT, Inc. has a 1 year low of $4.19 and a 1 year high of $6.99. The company has a market capitalization of $279.90 million, a price-to-earnings ratio of -2.19, a P/E/G ratio of 1.12 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 earnings per share for the quarter, meeting the consensus estimate of $0.28. City Office REIT had a negative return on equity of 20.26% and a negative net margin of 71.27%.The firm had revenue of $42.20 million for the quarter, compared to analysts' expectations of $42.54 million. On average, sell-side analysts forecast that City Office REIT, Inc. will post 1 earnings per share for the current year.

City Office REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, July 10th. City Office REIT's dividend payout ratio (DPR) is -12.62%.

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.