Acadian Asset Management LLC Buys 73,736 Shares of City Office REIT, Inc. (NYSE:CIO)

Acadian Asset Management LLC grew its stake in City Office REIT, Inc. (NYSE:CIO) by 42.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 245,688 shares of the real estate investment trust’s stock after purchasing an additional 73,736 shares during the period. Acadian Asset Management LLC owned approximately 0.61% of City Office REIT worth $1,222,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of City Office REIT by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,935,501 shares of the real estate investment trust’s stock valued at $20,504,000 after purchasing an additional 29,345 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of City Office REIT by 23.5% in the 4th quarter. Franklin Resources Inc. now owns 315,973 shares of the real estate investment trust’s stock valued at $1,931,000 after purchasing an additional 60,197 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $831,000 after purchasing an additional 18,201 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of City Office REIT by 14.8% during the 2nd quarter. Victory Capital Management Inc. now owns 156,700 shares of the real estate investment trust’s stock worth $780,000 after acquiring an additional 20,200 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of City Office REIT by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 68,975 shares of the real estate investment trust’s stock worth $343,000 after acquiring an additional 3,299 shares during the last quarter. 67.47% of the stock is owned by institutional investors.

City Office REIT Price Performance

Shares of CIO stock opened at $6.19 on Monday. City Office REIT, Inc. has a 52-week low of $3.45 and a 52-week high of $6.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a market capitalization of $248.53 million, a P/E ratio of -22.11, a P/E/G ratio of 0.94 and a beta of 1.96. The stock has a 50 day moving average price of $5.64 and a 200 day moving average price of $5.07.

City Office REIT (NYSE:CIO) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). City Office REIT had a negative return on equity of 1.07% and a negative net margin of 4.02%. The business had revenue of $42.34 million for the quarter, compared to the consensus estimate of $43.27 million. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, sell-side analysts predict that City Office REIT, Inc. will post 1.04 earnings per share for the current year.

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.