City Office REIT Inc (NYSE:CIO) has been downgraded to Hold in a report by Zacks Investment Research today.
- Updated: January 11, 2017
Zacks Investment Research has downgraded City Office REIT Inc (NYSE:CIO) to Hold in a statement released on 1/11/2017.
On 1/03/2017, Zacks Investment Research released a statement on City Office REIT Inc (NYSE:CIO) upped the target price from $0.00 to $15.00 that suggested an upside of 0.12%.
Having a price of $12.29, City Office REIT Inc (NYSE:CIO) traded 0.78% higher on the day. With the last close down -4.38% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.04% over the same period. City Office REIT Inc has recorded a 50-day average of $12.78 and a two hundred day average of $12.85. Volume of trade was up over the average, with 395,701 shares of CIO changing hands over the typical 110,297
With a total market value of $0, City Office REIT Inc has price-earnings ratio of 273.11 with a one year low of $10.65 and a one year high of $13.93 .
A total of 5 analysts have released a research note on City Office REIT Inc. zero analysts rating the company a strong buy, zero analysts rating the company a buy, zero analysts rating the company a hold, zero analysts rating the company a underperform, and finally zero analysts rating the company a sell with a 12-month price target of $13.90.
More About City Office REIT Inc (NYSE:CIO)
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 operates in the office properties segment. The Company has over 10 primary target markets, which are located in metropolitan areas in the Southern and Western United States. It owns over 10 office complexes consisting of over 30 office buildings with a total area of approximately 3.3 million square feet of net rentable area (NRA) in the metropolitan areas of Boise (Idaho), Denver (Colorado), Portland (Oregon), Tampa (Florida), Allentown (Pennsylvania), Dallas (Texas) and Orlando (FLorida). Approximately 49.1% of the rental revenue from properties is derived from tenants in these markets that are federal or state government agencies or investment grade tenants. Its principal business objective is to provide risk-adjusted returns to investors over the long-term through a combination of dividends and capital appreciation.
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