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

Sonora Investment Management Group LLC acquired a new position in shares of City Office REIT, Inc. (NYSE:CIO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 about 0.31% of City Office REIT at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CIO. Millennium Management LLC acquired a new stake in shares of City Office REIT during the fourth quarter valued at about $1,283,000. Jane Street Group LLC grew its holdings in shares of 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 purchasing an additional 156,497 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of City Office REIT in the fourth quarter valued at approximately $560,000. Man Group plc acquired a new position in shares of City Office REIT in the fourth quarter valued at approximately $425,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of 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 purchasing an additional 73,722 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors and hedge funds.

City Office REIT Price Performance

Shares of CIO stock remained flat at $5.39 during trading on Friday. 150,622 shares of the company were exchanged, compared to its average volume of 198,644. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 1.02. The firm has a market cap of $217.53 million, a P/E ratio of -8.69, a price-to-earnings-growth ratio of 0.86 and a beta of 1.64. The company has a fifty day simple moving average of $4.91 and a 200-day simple moving average of $5.13. City Office REIT, Inc. has a 52-week low of $4.19 and a 52-week high of $6.50.

City Office REIT (NYSE:CIO - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The real estate investment trust reported $0.30 earnings per share 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 analysts' expectations 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 anticipate that City Office REIT, Inc. will post 1 EPS for the current fiscal year.

City Office REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.42%. City Office REIT's dividend payout ratio (DPR) is presently -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.