Lazard Asset Management LLC raised its stake in City Office REIT, Inc. (NYSE:CIO - Get Rating) by 801.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,252 shares of the real estate investment trust's stock after purchasing an additional 39,345 shares during the period. Lazard Asset Management LLC owned 0.11% of City Office REIT worth $440,000 as of its most recent SEC filing.
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Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of City Office REIT during the second quarter valued at about $28,000. Tower Research Capital LLC TRC grew its holdings in shares of City Office REIT by 736.0% during the third quarter. Tower Research Capital LLC TRC now owns 4,247 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 3,739 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of City Office REIT by 25.3% during the second quarter. Point72 Hong Kong Ltd now owns 4,736 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 957 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of City Office REIT by 223.4% during the second quarter. Quantbot Technologies LP now owns 5,174 shares of the real estate investment trust's stock valued at $67,000 after buying an additional 3,574 shares during the last quarter. Finally, M&G Investment Management Ltd. acquired a new position in shares of City Office REIT during the third quarter valued at about $107,000. 76.80% of the stock is owned by institutional investors.
City Office REIT stock opened at $8.60 on Friday. City Office REIT, Inc. has a fifty-two week low of $8.03 and a fifty-two week high of $18.35. The stock has a market cap of $343.37 million, a PE ratio of 50.06, a price-to-earnings-growth ratio of 1.08 and a beta of 1.62. The firm's 50-day simple moving average is $9.05 and its 200 day simple moving average is $9.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.48.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 24th. Investors of record on Tuesday, January 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 9.30%. The ex-dividend date was Monday, January 9th. City Office REIT's dividend payout ratio (DPR) is presently 470.59%.
A number of research analysts have recently issued reports on CIO shares. B. Riley reduced their price objective on shares of City Office REIT from $14.00 to $12.00 and set a "buy" rating for the company in a report on Monday. StockNews.com cut shares of City Office REIT from a "hold" rating to a "sell" rating in a report on Friday, February 24th.
City Office REIT, Inc is a real estate investment trust. It focuses on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. The company was founded on November 26, 2013 and is headquartered in Vancouver, Canada.
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