Sonora Investment Management Group LLC Invests $655,000 in City Office REIT, Inc. (NYSE:CIO)

Sonora Investment Management Group LLC acquired a new stake in shares of City Office REIT, Inc. (NYSE:CIO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 126,300 shares of the real estate investment trust's stock, valued at approximately $655,000. Sonora Investment Management Group LLC owned approximately 0.31% of City Office REIT as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CIO. Quarry LP purchased a new stake in City Office REIT during the fourth quarter valued at approximately $43,000. Ethic Inc. purchased a new stake in City Office REIT in the 4th quarter worth $56,000. ProShare Advisors LLC bought a new stake in City Office REIT in the 4th quarter worth approximately $61,000. Summit Global Investments purchased a new stake in City Office REIT during the first quarter valued at $57,000. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 valued at $59,000 after acquiring an additional 8,247 shares during the last quarter. Hedge funds and other institutional investors own 67.47% of the company's stock.

City Office REIT Trading Up 0.6%

NYSE:CIO traded up $0.03 during midday trading on Thursday, hitting $5.35. 21,290 shares of the company traded hands, compared to its average volume of 198,033. The firm has a market capitalization of $215.92 million, a P/E ratio of -8.63, a P/E/G ratio of 0.86 and a beta of 1.64. The firm's fifty day moving average is $4.88 and its 200-day moving average is $5.14. City Office REIT, Inc. has a 12-month low of $4.19 and a 12-month high of $6.50. 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 issued its earnings results on Friday, May 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. The firm had revenue of $42.26 million during the quarter, compared to analyst estimates of $42.38 million. City Office REIT had a negative net margin of 10.33% and a negative return on equity of 2.74%. On average, sell-side analysts predict that City Office REIT, Inc. will post 1 EPS for the current year.

City Office REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.10 dividend. The ex-dividend date was Thursday, April 10th. This represents a $0.40 dividend on an annualized basis and a yield of 7.48%. City Office REIT's payout ratio is -61.54%.

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.