City Office REIT, Inc. (NYSE:CIO) is scheduled to be announcing its earnings results before the market opens on Monday, November 6th. Analysts expect the company to announce earnings of ($0.17) per share for the quarter.
City Office REIT (NYSE:CIO) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $25.16 million for the quarter, compared to analyst estimates of $26.18 million. City Office REIT had a return on equity of 1.91% and a net margin of 3.70%. During the same period last year, the company earned $0.22 earnings per share. On average, analysts expect City Office REIT to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of City Office REIT, Inc. (NYSE:CIO) opened at $13.06 on Friday. The firm has a market capitalization of $396.43 million, a P/E ratio of 13.51, a PEG ratio of 1.52 and a beta of 0.22. The company has a debt-to-equity ratio of 2.05, a current ratio of 9.18 and a quick ratio of 9.18.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th were given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date was Tuesday, October 10th. City Office REIT’s dividend payout ratio (DPR) is currently -723.08%.
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In other news, CEO James Thomas Farrar purchased 6,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of $12.52 per share, for a total transaction of $75,120.00. Following the completion of the purchase, the chief executive officer now directly owns 184,789 shares in the company, valued at approximately $2,313,558.28. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.
CIO has been the subject of a number of analyst reports. FBR & Co reaffirmed a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of City Office REIT from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, July 25th. Finally, BidaskClub upgraded shares of City Office REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.63.
City Office REIT Company Profile
City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.
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