City Office REIT Inc (NYSE:CIO) Expected to Post Earnings of $0.26 Per Share

Brokerages expect City Office REIT Inc (NYSE:CIO) to announce earnings per share of $0.26 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for City Office REIT’s earnings. City Office REIT also reported earnings of $0.26 per share in the same quarter last year. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 26th.

On average, analysts expect that City Office REIT will report full year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.17 to $1.18. For the next financial year, analysts anticipate that the business will post earnings of $1.22 per share, with EPS estimates ranging from $1.20 to $1.24. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover City Office REIT.

Several analysts recently issued reports on CIO shares. Raymond James raised City Office REIT from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Tuesday, January 7th. Zacks Investment Research raised City Office REIT from a “strong sell” rating to a “hold” rating in a report on Monday, January 6th. Finally, ValuEngine raised City Office REIT from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $14.17.

A number of institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC raised its stake in City Office REIT by 5.1% during the 2nd quarter. Private Advisor Group LLC now owns 15,992 shares of the real estate investment trust’s stock valued at $192,000 after acquiring an additional 778 shares in the last quarter. California State Teachers Retirement System increased its position in shares of City Office REIT by 1.6% during the 3rd quarter. California State Teachers Retirement System now owns 60,412 shares of the real estate investment trust’s stock valued at $869,000 after purchasing an additional 942 shares during the period. Metropolitan Life Insurance Co NY increased its position in shares of City Office REIT by 8.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 14,447 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 1,093 shares during the period. Royal Bank of Canada increased its position in shares of City Office REIT by 3.1% during the 2nd quarter. Royal Bank of Canada now owns 48,150 shares of the real estate investment trust’s stock valued at $577,000 after purchasing an additional 1,427 shares during the period. Finally, Eidelman Virant Capital increased its position in shares of City Office REIT by 3.8% during the 3rd quarter. Eidelman Virant Capital now owns 45,600 shares of the real estate investment trust’s stock valued at $656,000 after purchasing an additional 1,650 shares during the period. 67.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CIO traded up $0.03 during mid-day trading on Friday, hitting $13.78. The company had a trading volume of 2,424 shares, compared to its average volume of 437,569. The stock has a market cap of $743.52 million, a price-to-earnings ratio of 12.78 and a beta of 0.43. City Office REIT has a 12 month low of $10.72 and a 12 month high of $14.50. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.26 and a quick ratio of 2.26. The firm’s 50 day simple moving average is $13.22 and its two-hundred day simple moving average is $13.20.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend is Thursday, January 9th. City Office REIT’s payout ratio is currently 87.04%.

City Office REIT Company Profile

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2018, CIO owned office complexes comprising 5.7 million square feet of net rentable area (“NRA”).

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