City Office REIT, Inc. (NYSE:CIO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of City Office REIT, Inc. (NYSE:CIO) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,241 shares of the real estate investment trust’s stock after selling 11,984 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of City Office REIT worth $636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in City Office REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,026,928 shares of the real estate investment trust’s stock worth $5,998,000 after purchasing an additional 11,178 shares during the period. JPMorgan Chase & Co. grew its stake in City Office REIT by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 364,093 shares of the real estate investment trust’s stock valued at $2,126,000 after purchasing an additional 16,828 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in City Office REIT by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 341,386 shares of the real estate investment trust’s stock worth $1,994,000 after buying an additional 12,808 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of City Office REIT by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 205,073 shares of the real estate investment trust’s stock valued at $1,197,000 after purchasing an additional 38,285 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of City Office REIT by 5.9% in the third quarter. Victory Capital Management Inc. now owns 166,000 shares of the real estate investment trust’s stock worth $969,000 after buying an additional 9,300 shares during the last quarter. 67.47% of the stock is owned by institutional investors and hedge funds.

City Office REIT Stock Up 1.1 %

CIO stock opened at $5.17 on Thursday. City Office REIT, Inc. has a 52-week low of $4.29 and a 52-week high of $6.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.42 and a quick ratio of 2.42. The stock has a market capitalization of $208.81 million, a price-to-earnings ratio of -8.35, a price-to-earnings-growth ratio of 0.86 and a beta of 2.00. The company has a 50-day moving average of $5.10 and a two-hundred day moving average of $5.40.

City Office REIT (NYSE:CIO) last issued its quarterly 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. The firm had revenue of $41.92 million for the quarter, compared to analyst estimates of $42.79 million. City Office REIT had a negative return on equity of 2.74% and a negative net margin of 10.33%. As a group, equities research analysts anticipate that City Office REIT, Inc. will post 1 EPS for the current year.

City Office REIT Dividend Announcement

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