Connor Clark & Lunn Investment Management Ltd. Acquires 24,109 Shares of City Office REIT, Inc. (NYSE:CIO)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in City Office REIT, Inc. (NYSE:CIO) by 34.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,546 shares of the real estate investment trust’s stock after purchasing an additional 24,109 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of City Office REIT worth $546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CIO. Acadian Asset Management LLC grew its stake in shares of City Office REIT by 42.9% in the 2nd quarter. Acadian Asset Management LLC now owns 245,688 shares of the real estate investment trust’s stock worth $1,222,000 after buying an additional 73,736 shares during the last quarter. Quadrature Capital Ltd bought a new stake in City Office REIT in the first quarter worth $159,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of City Office REIT in the first quarter worth $153,000. Vanguard Group Inc. increased its holdings in shares of City Office REIT by 0.8% during the first quarter. Vanguard Group Inc. now owns 3,935,501 shares of the real estate investment trust’s stock valued at $20,504,000 after acquiring an additional 29,345 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of City Office REIT by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,268,416 shares of the real estate investment trust’s stock worth $6,317,000 after purchasing an additional 21,600 shares during the last quarter. Institutional investors own 67.47% of the company’s stock.

City Office REIT Stock Performance

Shares of City Office REIT stock opened at $5.80 on Friday. City Office REIT, Inc. has a 1 year low of $4.02 and a 1 year high of $6.70. The firm’s 50-day moving average is $5.50 and its 200 day moving average is $5.42. The stock has a market cap of $232.87 million, a price-to-earnings ratio of -13.81, a PEG ratio of 0.90 and a beta of 1.97. 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 issued its earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.36). The firm had revenue of $42.37 million during the quarter, compared to the consensus estimate of $42.02 million. City Office REIT had a negative return on equity of 1.48% and a negative net margin of 5.56%. During the same quarter in the prior year, the company posted $0.34 EPS. Sell-side analysts anticipate that City Office REIT, Inc. will post 1.05 EPS for the current fiscal year.

City Office REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.40 annualized dividend and a yield of 6.90%. City Office REIT’s dividend 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.