Lucid Capital lowered the firm’s price target on City Office REIT (CIO) to $7 from $9 and keeps a Buy rating on the shares. While office real estate investment trust fundamentals are improving, the reduced price target reflects rising office REIT cap rates as well as a reduction in office REIT multiples, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CIO:
- City Office REIT Reports Strong Leasing Momentum in 2024
- City Office REIT’s Optimistic Outlook Amid Challenges
- City Office REIT: Hold Rating Amid Market Uncertainty and High Leverage
- City Office REIT sees FY25 core FFO $1.10-$1.14, consensus $1.10
- City Office REIT reports Q4 core FFO 28c, consensus 28c