Bank of New York Mellon Corp Sells 11,984 Shares of City Office REIT, Inc. (NYSE:CIO)

Bank of New York Mellon Corp cut its position in City Office REIT, Inc. (NYSE:CIO) by 9.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 115,241 shares of the real estate investment trust’s stock after selling 11,984 shares during the period. Bank of New York Mellon Corp’s holdings in City Office REIT were worth $636,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of City Office REIT by 5.9% during the third quarter. Victory Capital Management Inc. now owns 166,000 shares of the real estate investment trust’s stock valued at $969,000 after acquiring an additional 9,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 buying an additional 24,109 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of City Office REIT by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 341,386 shares of the real estate investment trust’s stock valued at $1,994,000 after buying an additional 12,808 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of City Office REIT by 23.0% during the third quarter. Penserra Capital Management LLC now owns 205,073 shares of the real estate investment trust’s stock valued at $1,197,000 after buying an additional 38,285 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of City Office REIT by 44.0% during the third quarter. Quantinno Capital Management LP now owns 38,722 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 11,825 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors and hedge funds.

City Office REIT Trading Up 1.1 %

NYSE CIO opened at $5.17 on Thursday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $208.81 million, a P/E ratio of -8.35, a PEG ratio of 0.86 and a beta of 2.00. The business has a fifty day simple moving average of $5.10 and a 200 day simple moving average of $5.40. City Office REIT, Inc. has a 12 month low of $4.29 and a 12 month high of $6.50.

City Office REIT (NYSE:CIO) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.40. City Office REIT had a negative return on equity of 2.74% and a negative net margin of 10.33%. The firm had revenue of $41.92 million during the quarter, compared to analyst estimates of $42.79 million. On average, analysts predict that City Office REIT, Inc. will post 1 EPS for the current fiscal year.

City Office REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.73%. City Office REIT’s payout ratio is -64.52%.

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.