Equities research analysts predict that City Office REIT Inc (NYSE:CIO) will post earnings per share of $0.26 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for City Office REIT’s earnings. City Office REIT also posted earnings of $0.26 per share in the same quarter last year. The business is expected 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 year, analysts expect that the firm will report earnings of $1.22 per share, with EPS estimates ranging from $1.20 to $1.24. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow City Office REIT.
A number of brokerages have recently issued reports on CIO. Raymond James raised City Office REIT from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $14.17.
A number of hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its holdings 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 purchasing an additional 778 shares in the last quarter. California State Teachers Retirement System increased its holdings in 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 in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in 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 in the last quarter. Royal Bank of Canada increased its holdings in 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 in the last quarter. Finally, Eidelman Virant Capital increased its holdings in 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 in the last quarter. 67.62% of the stock is owned by hedge funds and other institutional investors.
Shares of CIO traded up $0.03 during mid-day trading on Friday, reaching $13.78. The company had a trading volume of 2,424 shares, compared to its average volume of 437,569. City Office REIT has a twelve month low of $10.72 and a twelve 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 company’s 50-day moving average is $13.22 and its 200-day moving average is $13.20. The company has a market capitalization of $743.52 million, a P/E ratio of 12.78 and a beta of 0.43.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $0.94 dividend on an annualized basis and a yield of 6.82%. City Office REIT’s dividend payout ratio is 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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