Geode Capital Management LLC Grows Stock Position in City Office REIT, Inc. (NYSE:CIO)

Geode Capital Management LLC grew its position in shares of City Office REIT, Inc. (NYSE:CIO) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,026,928 shares of the real estate investment trust’s stock after purchasing an additional 11,178 shares during the quarter. Geode Capital Management LLC’s holdings in City Office REIT were worth $5,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. bought a new stake in City Office REIT in the 2nd quarter valued at about $72,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of City Office REIT by 34.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,546 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 24,109 shares during the period. Acadian Asset Management LLC raised its position in shares of City Office REIT by 42.9% in the second quarter. Acadian Asset Management LLC now owns 245,688 shares of the real estate investment trust’s stock valued at $1,222,000 after purchasing an additional 73,736 shares during the period. Renaissance Technologies LLC lifted its stake in shares of City Office REIT by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,268,416 shares of the real estate investment trust’s stock valued at $6,317,000 after buying an additional 21,600 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in City Office REIT by 12.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 166,927 shares of the real estate investment trust’s stock worth $831,000 after buying an additional 18,201 shares during the period. Institutional investors own 67.47% of the company’s stock.

City Office REIT Trading Up 1.5 %

Shares of CIO stock opened at $5.52 on Friday. The stock has a market capitalization of $221.65 million, a price-to-earnings ratio of -13.14, a PEG ratio of 0.91 and a beta of 1.98. The company’s fifty day simple moving average is $5.41 and its two-hundred day simple moving average is $5.53. City Office REIT, Inc. has a 1 year low of $4.02 and a 1 year high of $6.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.42 and a quick ratio of 2.42.

City Office REIT (NYSE:CIO) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.36). The company had revenue of $42.37 million for the quarter, compared to the consensus estimate of $42.02 million. City Office REIT had a negative net margin of 5.56% and a negative return on equity of 1.48%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, analysts anticipate that City Office REIT, Inc. will post 1.05 earnings per share for the current year.

City Office REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Friday, January 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date is Friday, January 10th. City Office REIT’s payout ratio is -95.24%.

City Office REIT 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.