Teacher Retirement System of Texas purchased a new stake in City Office REIT, Inc. (NYSE:CIO - Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,644 shares of the real estate investment trust's stock, valued at approximately $445,000. Teacher Retirement System of Texas owned approximately 0.11% of City Office REIT as of its most recent SEC filing.
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Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of City Office REIT during the 2nd quarter worth about $28,000. Lazard Asset Management LLC acquired a new stake in City Office REIT during the first quarter worth approximately $39,000. Point72 Hong Kong Ltd grew its stake in City Office REIT by 25.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 4,736 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 957 shares during the period. Quantbot Technologies LP raised its holdings in City Office REIT by 223.4% in the 2nd quarter. Quantbot Technologies LP now owns 5,174 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 3,574 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in shares of City Office REIT during the 1st quarter worth $91,000. Institutional investors and hedge funds own 76.80% of the company's stock.
Shares of NYSE:CIO opened at $9.70 on Wednesday. The business has a 50-day moving average of $9.11 and a two-hundred day moving average of $10.41. The firm has a market capitalization of $385.28 million, a PE ratio of 0.94, a P/E/G ratio of 1.27 and a beta of 1.62. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.14 and a quick ratio of 2.14. City Office REIT, Inc. has a 12 month low of $8.03 and a 12 month high of $18.35.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 24th. Investors of record on Tuesday, January 10th were issued a $0.20 dividend. The ex-dividend date was Monday, January 9th. This represents a $0.80 annualized dividend and a yield of 8.25%. City Office REIT's payout ratio is 7.77%.
Several equities analysts recently commented on the company. StockNews.com lowered City Office REIT from a "buy" rating to a "hold" rating in a research note on Thursday, October 20th. B. Riley cut their price objective on shares of City Office REIT from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of City Office REIT from $15.00 to $12.00 and set a "hold" rating for the company in a report on Thursday, October 13th.
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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