City Office REIT Inc (CIO) : Spirit Of America Management Corpny scooped up 2,000 additional shares in City Office REIT Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 205,728 shares of City Office REIT Inc which is valued at $2,505,767.City Office REIT Inc makes up approximately 0.33% of Spirit Of America Management Corpny’s portfolio.
Other Hedge Funds, Including , Creative Planning boosted its stake in CIO in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 2,077 shares of City Office REIT Inc which is valued at $25,256.Cutler Group Lp reduced its stake in CIO by selling 224 shares or 15.26% in the most recent quarter. The Hedge Fund company now holds 1,244 shares of CIO which is valued at $15,102.Bnp Paribas Arbitrage Sa boosted its stake in CIO in the latest quarter, The investment management firm added 744 additional shares and now holds a total of 1,487 shares of City Office REIT Inc which is valued at $18,201.
City Office REIT Inc closed down -0.16 points or -1.30% at $12.18 with 1,10,234 shares getting traded on Friday. Post opening the session at $12.41, the shares hit an intraday low of $12.15 and an intraday high of $12.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, City Office REIT Inc reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.24. The company had revenue of $16.09 million for the quarter, compared to analysts expectations of $16.17 million. The company’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.
Many Wall Street Analysts have commented on City Office REIT Inc. Company shares were Reiterated by Compass Point on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 14.50 from a previous price target of $13 .Company shares were Reiterated by Wunderlich on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $14 .
City Office REIT Inc. is focused on acquiring owning and operating Class A and B office properties located within its target markets in the United States. The Company has 12 primary target markets which are located in metropolitan areas in the Southern and Western United States. As of December 31 2014 then Company owned nine office complexes which include 21 office buildings in the metropolitan areas of Boise (ID) Dallas (TX) Denver (CO) Portland (OR) Tampa (FL) Allentown (PA) and Orlando (FL). Eight of the nine properties of the Company owned as of December 31 2014 are managed by local third-party real estate operators six of which have invested equity with management and three of which continue to hold a minority equity interest in the property.