Short Interest in City Office REIT, Inc. (NYSE:CIO) Drops By 52.8%

Key Points

• City Office REIT, Inc. experienced a significant drop in short interest, falling by 52.8% in August, with total short interest of 231,000 shares as of August 31st.
• The company reported earnings of $0.28 per share for the previous quarter, matching analysts' expectations, but had a negative net margin of 71.27%.
• Recent activity showed that significant institutional investment has occurred, with large investors like PNC Financial Services increasing their stake by 134.2% during the second quarter.

City Office REIT, Inc. (NYSE:CIO - Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 231,000 shares, a decline of 52.8% from the August 15th total of 489,600 shares. Currently, 0.6% of the company's shares are short sold. Based on an average daily trading volume, of 495,200 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 495,200 shares, the short-interest ratio is currently 0.5 days. Currently, 0.6% of the company's shares are short sold.

City Office REIT Stock Up 0.2%

Shares of CIO opened at $6.95 on Friday. The stock has a market capitalization of $280.30 million, a PE ratio of -2.19, a P/E/G ratio of 1.12 and a beta of 1.82. City Office REIT 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 quick ratio of 3.31 and a current ratio of 3.31. The company's 50-day simple moving average is $6.59 and its 200-day simple moving average is $5.58.

City Office REIT (NYSE:CIO - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. City Office REIT had a negative net margin of 71.27% and a negative return on equity of 20.26%. The firm had revenue of $42.20 million for the quarter, compared to analyst estimates of $42.54 million. Analysts forecast that City Office REIT will post 1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott restated a "neutral" rating on shares of City Office REIT in a report on Friday, July 25th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, City Office REIT has a consensus rating of "Hold".

Institutional Trading of City Office REIT

Large investors have recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in shares of City Office REIT during the first quarter worth approximately $30,000. Russell Investments Group Ltd. increased its stake in shares of City Office REIT by 71.4% during the second quarter. Russell Investments Group Ltd. now owns 7,230 shares of the real estate investment trust's stock worth $39,000 after buying an additional 3,013 shares during the period. Strs Ohio purchased a new stake in shares of City Office REIT during the first quarter worth approximately $40,000. PNC Financial Services Group Inc. increased its stake in shares of City Office REIT by 134.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,869 shares of the real estate investment trust's stock worth $47,000 after buying an additional 5,082 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of City Office REIT by 473.8% during the second quarter. Tower Research Capital LLC TRC now owns 9,623 shares of the real estate investment trust's stock worth $51,000 after buying an additional 7,946 shares during the period. 67.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

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