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City Office REIT ( (CIO) ) just unveiled an update.
On July 23, 2025, City Office REIT entered into a merger agreement with MCME Carell Holdings, where City Office will be acquired for $7.00 per share in a transaction valued at approximately $1.1 billion. This merger, approved by the board, includes the sale of the company’s Phoenix portfolio and is expected to close in the fourth quarter of 2025, subject to shareholder approval and other customary conditions. The transaction offers a significant premium over the current stock price, reflecting a strategic move in a challenging office sector environment. Additionally, City Office announced the sale of its Phoenix assets for $296 million, with proceeds intended to repay debt and for general corporate purposes. The sale is scheduled to close on August 14, 2025, and is not contingent upon the merger’s completion.
The most recent analyst rating on (CIO) stock is a Hold with a $5.50 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 score is driven by strong earnings call highlights and positive technical indicators, despite profitability challenges and short-term occupancy concerns. An attractive dividend yield supports the valuation, though a negative P/E ratio reflects ongoing financial headwinds.
To see Spark’s full report on CIO stock, click here.
More about City Office REIT
City Office REIT is an internally-managed real estate company focused on acquiring, owning, and operating office properties located predominantly in Sun Belt markets. The company currently owns or has a controlling interest in 5.4 million square feet of office properties and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.
Average Trading Volume: 140,100
Technical Sentiment Signal: Buy
Current Market Cap: $224.4M
See more data about CIO stock on TipRanks’ Stock Analysis page.