StockNews.com Lowers City Office REIT (NYSE:CIO) to Sell

City Office REIT (NYSE:CIO - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Wednesday.

City Office REIT Stock Performance

CIO stock traded up $0.04 during midday trading on Wednesday, reaching $4.76. 180,968 shares of the company's stock traded hands, compared to its average volume of 287,567. The firm has a market capitalization of $190.91 million, a PE ratio of -19.02, a price-to-earnings-growth ratio of 0.76 and a beta of 1.84. City Office REIT has a 52 week low of $3.45 and a 52 week high of $7.03. The company has a 50-day moving average price of $4.71 and a two-hundred day moving average price of $4.84. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.33 and a current ratio of 3.33.

City Office REIT (NYSE:CIO - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.42). City Office REIT had a negative net margin of 1.50% and a negative return on equity of 0.40%. The business had revenue of $44.32 million for the quarter, compared to analysts' expectations of $44.47 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts anticipate that City Office REIT will post 1.09 EPS for the current year.

Insider Buying and Selling at City Office REIT

In other news, Director Michael Mazan purchased 39,000 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average cost of $4.22 per share, with a total value of $164,580.00. Following the purchase, the director now owns 39,000 shares in the company, valued at $164,580. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CIO. Goldman Sachs Group Inc. increased its stake in shares of City Office REIT by 135.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,142,360 shares of the real estate investment trust's stock worth $6,980,000 after acquiring an additional 656,551 shares during the period. AQR Capital Management LLC increased its position in shares of City Office REIT by 73.2% during the third quarter. AQR Capital Management LLC now owns 1,059,006 shares of the real estate investment trust's stock valued at $4,501,000 after acquiring an additional 447,484 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of City Office REIT in the first quarter valued at approximately $5,674,000. Franklin Resources Inc. acquired a new position in shares of City Office REIT in the 1st quarter valued at $1,419,000. Finally, Marshall Wace LLP boosted its holdings in shares of City Office REIT by 658.9% in the 3rd quarter. Marshall Wace LLP now owns 216,744 shares of the real estate investment trust's stock valued at $2,160,000 after buying an additional 188,184 shares in the last quarter. Institutional investors own 67.47% of the company's stock.

City Office REIT Company 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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