Resona Asset Management Co. Ltd. Makes New Investment in City Office REIT, Inc. (NYSE:CIO)

Resona Asset Management Co. Ltd. bought a new stake in City Office REIT, Inc. (NYSE:CIO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,618 shares of the real estate investment trust’s stock, valued at approximately $89,000.

A number of other hedge funds have also recently made changes to their positions in CIO. Y Intercept Hong Kong Ltd bought a new position in City Office REIT in the 4th quarter valued at approximately $560,000. Barclays PLC increased its position in City Office REIT by 237.0% in the 3rd quarter. Barclays PLC now owns 61,942 shares of the real estate investment trust’s stock valued at $362,000 after acquiring an additional 43,562 shares during the period. JPMorgan Chase & Co. raised its stake in shares of City Office REIT by 9.8% during the fourth quarter. JPMorgan Chase & Co. now owns 399,820 shares of the real estate investment trust’s stock valued at $2,207,000 after acquiring an additional 35,727 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of City Office REIT during the fourth quarter worth $108,000. Finally, Intech Investment Management LLC bought a new stake in shares of City Office REIT in the fourth quarter worth $105,000. 67.47% of the stock is owned by institutional investors and hedge funds.

City Office REIT Stock Performance

NYSE CIO opened at $4.31 on Friday. The company has a market capitalization of $173.74 million, a price-to-earnings ratio of -6.94, a PEG ratio of 0.86 and a beta of 1.84. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 1.02. City Office REIT, Inc. has a twelve month low of $4.19 and a twelve month high of $6.50. The stock has a fifty day simple moving average of $5.01 and a 200 day simple moving average of $5.29.

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 for the quarter, beating the consensus estimate of ($0.12) by $0.40. The company had revenue of $41.92 million during the quarter, compared to analysts’ expectations of $42.79 million. City Office REIT had a negative return on equity of 2.74% and a negative net margin of 10.33%. Sell-side analysts expect that City Office REIT, Inc. will post 1 EPS for the current year.

City Office REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.10 dividend. 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 9.29%. City Office REIT’s dividend payout ratio (DPR) 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.