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City Office REIT ( (CIO) ) has provided an update.
On January 9, 2026, a joint venture between Elliott Investment Management and Morning Calm Management, operating as MCME Carrell, completed its previously announced acquisition of City Office REIT for $7.00 per share in cash, leading to the delisting of the company’s common and preferred stock from the New York Stock Exchange and the planned suspension of its SEC reporting obligations. In connection with the closing, City Office REIT fully repaid and terminated its 2018 credit agreement, redeemed all outstanding 6.625% Series A preferred shares for $25.00 per share plus accrued distributions, cashed out and vested all outstanding equity awards, replaced its board and management with those of the acquisition vehicle, and converted the surviving entity’s governing documents, marking City Office’s transition from a publicly traded REIT to a privately held portfolio under MCME Carrell with the backing of Elliott and Morning Calm’s strategy to capitalize on opportunities in the U.S. commercial office market.
The most recent analyst rating on (CIO) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on City Office REIT stock, see the CIO Stock Forecast page.
Spark’s Take on CIO Stock
According to Spark, TipRanks’ AI Analyst, CIO is a Neutral.
City Office REIT’s overall stock score reflects significant financial challenges, including declining revenue and profitability, and legal uncertainties related to a merger. While technical indicators suggest a short-term upward trend, the negative P/E ratio and potential overbought conditions warrant caution. The high dividend yield is attractive but may not be sustainable.
To see Spark’s full report on CIO stock, click here.
More about City Office REIT
City Office REIT, Inc. is a real estate investment trust focused on owning and managing commercial office properties in the U.S. office sector. Its portfolio targets high-quality commercial real estate assets, positioning the company within a segment currently experiencing significant dislocation and recovery dynamics in broader U.S. commercial real estate markets.
Average Trading Volume: 404,746
Technical Sentiment Signal: Buy
Current Market Cap: $282.5M
For an in-depth examination of CIO stock, go to TipRanks’ Overview page.