City Office REIT Inc (CIO) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

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Connor Clark & Lunn Investment Management Ltd. increased its holdings in City Office REIT Inc (NYSE:CIO) by 2.4% in the 1st quarter, HoldingsChannel reports. The fund owned 411,060 shares of the real estate investment trust’s stock after purchasing an additional 9,440 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in City Office REIT were worth $4,649,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Cutler Group LP raised its stake in shares of City Office REIT by 346.7% during the 4th quarter. Cutler Group LP now owns 2,640 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 2,049 shares in the last quarter. Princeton Capital Management LLC raised its stake in shares of City Office REIT by 122.4% during the 1st quarter. Princeton Capital Management LLC now owns 2,371 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,305 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of City Office REIT by 556.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,145 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 6,057 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of City Office REIT by 11.5% during the 4th quarter. State of Alaska Department of Revenue now owns 12,663 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of City Office REIT by 246.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,758 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 10,500 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on the company. Zacks Investment Research lowered City Office REIT from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Boenning Scattergood reissued a “buy” rating and set a $14.50 price objective on shares of City Office REIT in a report on Monday, May 6th. Deutsche Bank lowered their price objective on City Office REIT from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Finally, TheStreet raised City Office REIT from a “c” rating to a “b-” rating in a report on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $13.58.

Shares of NYSE CIO opened at $11.85 on Friday. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 2.53. The stock has a market cap of $469.69 million, a PE ratio of 10.97, a P/E/G ratio of 1.28 and a beta of 0.52. City Office REIT Inc has a 52 week low of $9.73 and a 52 week high of $13.20.

City Office REIT (NYSE:CIO) last issued its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.35). The company had revenue of $37.12 million for the quarter, compared to analyst estimates of $36.24 million. City Office REIT had a negative net margin of 7.39% and a negative return on equity of 3.51%. Research analysts expect that City Office REIT Inc will post 1.16 earnings per share for the current year.

In other City Office REIT news, Director John Sweet bought 3,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $11.84 per share, with a total value of $35,520.00. Following the acquisition, the director now directly owns 9,867 shares of the company’s stock, valued at approximately $116,825.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Thomas Farrar bought 8,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $11.39 per share, for a total transaction of $91,120.00. Following the acquisition, the chief executive officer now directly owns 232,497 shares in the company, valued at $2,648,140.83. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.

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City Office REIT Company Profile

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2018, CIO owned office complexes comprising 5.7 million square feet of net rentable area (?NRA?).

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Want to see what other hedge funds are holding CIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for City Office REIT Inc (NYSE:CIO).

Institutional Ownership by Quarter for City Office REIT (NYSE:CIO)

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