Nuveen LLC Takes $717,000 Position 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 stake in shares of City Office REIT, Inc. (NYSE:CIO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 138,161 shares of the real estate investment trust's stock, valued at approximately $717,000. Nuveen LLC owned 0.34% of City Office REIT at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CIO. Price T Rowe Associates Inc. MD lifted its stake in shares of City Office REIT by 21.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,975 shares of the real estate investment trust's stock valued at $89,000 after buying an additional 2,806 shares during the period. Quantinno Capital Management LP raised its position in City Office REIT by 9.0% in the fourth quarter. Quantinno Capital Management LP now owns 42,213 shares of the real estate investment trust's stock worth $233,000 after purchasing an additional 3,491 shares in the last quarter. Victory Capital Management Inc. raised its position in City Office REIT by 2.2% in the first quarter. Victory Capital Management Inc. now owns 178,000 shares of the real estate investment trust's stock worth $924,000 after purchasing an additional 3,821 shares in the last quarter. Barclays PLC raised its position in City Office REIT by 6.8% in the fourth quarter. Barclays PLC now owns 66,170 shares of the real estate investment trust's stock worth $366,000 after purchasing an additional 4,228 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in City Office REIT by 27.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,994 shares of the real estate investment trust's stock worth $132,000 after purchasing an additional 5,205 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors.

City Office REIT Price Performance

Shares of NYSE CIO traded up $0.01 during mid-day trading on Tuesday, hitting $6.95. 210,051 shares of the stock were exchanged, compared to its average volume of 291,077. The company has a market cap of $280.33 million, a P/E ratio of -2.19, a PEG ratio of 1.12 and a beta of 1.82. The stock's fifty day simple moving average is $6.48 and its two-hundred day simple moving average is $5.53. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.31 and a current ratio of 3.31. City Office REIT, Inc. has a twelve month low of $4.19 and a twelve month high of $6.99.

City Office REIT (NYSE:CIO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $42.20 million during the quarter, compared to analyst estimates 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, 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 declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Thursday, July 10th. City Office REIT's dividend payout ratio is -12.62%.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott reissued 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.com, the stock has an average rating of "Hold".

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.