Sonora Investment Management Group LLC Acquires 201,820 Shares of City Office REIT, Inc. $CIO

Key Points

• Sonora Investment Management Group LLC significantly increased its holdings in City Office REIT, acquiring an additional 201,820 shares, which raised its ownership to 328,120 shares (worth $1.75 million) in the second quarter.
• City Office REIT's stock currently holds a market capitalization of $280.70 million, with a current trading price of $6.96, showing a modest increase of 0.1%.
• Despite meeting earnings estimates, City Office REIT reported a negative return on equity of 20.26% and a significant net margin loss of 71.27% in its latest quarterly report.

Sonora Investment Management Group LLC lifted its holdings in City Office REIT, Inc. (NYSE:CIO - Free Report) by 159.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 328,120 shares of the real estate investment trust's stock after acquiring an additional 201,820 shares during the period. Sonora Investment Management Group LLC owned 0.81% of City Office REIT worth $1,752,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new position in shares of City Office REIT in the 1st quarter worth approximately $30,000. Strs Ohio bought a new stake in shares of City Office REIT in the 1st quarter worth about $40,000. Summit Global Investments purchased a new position in shares of City Office REIT during the 1st quarter worth about $57,000. GAMMA Investing LLC raised its position in City Office REIT by 270.7% in the 1st quarter. GAMMA Investing LLC now owns 11,293 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 8,247 shares during the period. Finally, ProShare Advisors LLC bought a new position in shares of City Office REIT during the fourth quarter valued at approximately $61,000. 67.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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 data from MarketBeat, the stock currently has an average rating of "Hold".

City Office REIT Stock Up 0.1%

NYSE:CIO opened at $6.96 on Friday. The firm has a market capitalization of $280.70 million, a P/E ratio of -2.19, a PEG ratio of 1.12 and a beta of 1.82. The company's fifty day moving average price is $6.85 and its 200-day moving average price is $5.71. City Office REIT, Inc. has a 1-year low of $4.19 and a 1-year high of $6.99. 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 (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, hitting 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 company had revenue of $42.20 million for the quarter, compared to the consensus estimate of $42.54 million. As a group, equities research analysts anticipate that City Office REIT, Inc. will post 1 EPS for the current year.

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.

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