City Office REIT, Inc. (CIO) to Release Quarterly Earnings on Thursday
City Office REIT, Inc. (NYSE:CIO) will be issuing its quarterly earnings data before the market opens on Thursday, August 3rd. Analysts expect the company to announce earnings of ($0.12) per share for the quarter.
City Office REIT (NYSE:CIO) last released its quarterly earnings data on Friday, May 5th. The real estate investment trust reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.33. City Office REIT had a net margin of 5.90% and a return on equity of 2.90%. The firm had revenue of $25.40 million during the quarter, compared to the consensus estimate of $24.54 million. During the same quarter in the prior year, the company earned $0.32 EPS. City Office REIT’s quarterly revenue was up 55.8% on a year-over-year basis. On average, analysts expect City Office REIT to post $-0.51 EPS for the current fiscal year and $-0.46 EPS for the next fiscal year.
Shares of City Office REIT, Inc. (CIO) opened at 12.66 on Thursday. The company has a market cap of $383.05 million, a PE ratio of 263.75 and a beta of 0.22. The company has a 50 day moving average of $12.63 and a 200-day moving average of $12.51. City Office REIT, Inc. has a 52-week low of $11.43 and a 52-week high of $13.93.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.42%. City Office REIT’s dividend payout ratio (DPR) is presently 1,175.00%.
A number of equities analysts recently weighed in on CIO shares. Deutsche Bank AG lifted their target price on shares of City Office REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. BidaskClub downgraded shares of City Office REIT from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. FBR & Co started coverage on shares of City Office REIT in a research note on Tuesday, July 11th. They set an “outperform” rating and a $14.50 target price for the company. TheStreet downgraded shares of City Office REIT from a “c-” rating to a “d” rating in a research note on Friday, April 7th. Finally, Zacks Investment Research raised shares of City Office REIT from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.67.
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About City Office REIT
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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