City Office REIT (NYSE:CIO) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

by · The Cerbat Gem

City Office REIT, Inc. (NYSE:CIO – Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.91 and traded as high as $6.97. City Office REIT shares last traded at $6.96, with a volume of 94,641 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of City Office REIT in a report on Monday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, City Office REIT currently has an average rating of “Reduce”.

Read Our Latest Analysis on City Office REIT

City Office REIT Price Performance

The company’s 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $6.60. The stock has a market capitalization of $281.11 million, a P/E ratio of -2.20, a PEG ratio of 1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.76 and a quick ratio of 2.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIO. Deutsche Bank AG bought a new position in City Office REIT in the 1st quarter worth approximately $30,000. Russell Investments Group Ltd. increased its stake in shares of City Office REIT by 71.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,230 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 3,013 shares during the period. Strs Ohio bought a new stake in shares of City Office REIT during the first quarter worth $40,000. PNC Financial Services Group Inc. raised its position 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 acquiring an additional 5,082 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted 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 valued at $51,000 after acquiring an additional 7,946 shares during the period. Institutional investors and hedge funds own 67.47% of the company’s stock.

About City Office REIT

(Get Free Report)

City Office REIT, Inc (NYSE:CIO) is a publicly traded real estate investment trust focused on acquiring, managing and enhancing office and related properties in select Sun Belt and Southeastern U.S. markets. Established in 2017 through a spin-off from Shorenstein Properties, the company targets high-growth secondary markets offering favorable demographic trends, employment growth and constrained new office supply. Its strategy emphasizes well-located assets in metropolitan areas experiencing population inflows and corporate relocations.

The trust’s core business activities include property acquisition, leasing, asset management and value-add redevelopment initiatives.

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