Analysts expect City Office REIT, Inc. (NYSE:CIO) to announce $0.22 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for City Office REIT’s earnings, with estimates ranging from $0.19 to $0.26. City Office REIT posted earnings of $0.27 per share in the same quarter last year, which suggests a negative year over year growth rate of 18.5%. The company is scheduled to report its next earnings report on Monday, November 6th.

On average, analysts expect that City Office REIT will report full year earnings of $0.97 per share for the current year, with EPS estimates ranging from $0.93 to $0.99. For the next fiscal year, analysts anticipate that the company will report earnings of $1.04 per share, with EPS estimates ranging from $0.98 to $1.08. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover City Office REIT.

City Office REIT (NYSE:CIO) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 3.70% and a return on equity of 1.91%. During the same quarter in the previous year, the firm posted $0.22 EPS.

CIO has been the subject of a number of research reports. TheStreet raised City Office REIT from a “d” rating to a “c” rating in a report on Thursday, May 18th. Deutsche Bank AG lifted their target price on City Office REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Zacks Investment Research downgraded City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. FBR & Co initiated coverage on City Office REIT in a report on Tuesday, July 11th. They set an “outperform” rating and a $14.50 target price for the company. Finally, ValuEngine downgraded City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $14.63.

Hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted its position in shares of City Office REIT by 21.0% in the second quarter. Nationwide Fund Advisors now owns 18,734 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 3,245 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of City Office REIT by 18.3% in the second quarter. TIAA CREF Investment Management LLC now owns 219,914 shares of the real estate investment trust’s stock worth $2,793,000 after buying an additional 34,082 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of City Office REIT by 2.8% in the second quarter. Teachers Advisors LLC now owns 58,465 shares of the real estate investment trust’s stock worth $743,000 after buying an additional 1,572 shares during the last quarter. Martingale Asset Management L P boosted its position in shares of City Office REIT by 1.3% in the second quarter. Martingale Asset Management L P now owns 146,914 shares of the real estate investment trust’s stock worth $1,866,000 after buying an additional 1,900 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of City Office REIT by 0.6% in the second quarter. Wells Fargo & Company MN now owns 87,592 shares of the real estate investment trust’s stock worth $1,112,000 after buying an additional 563 shares during the last quarter. Institutional investors own 53.35% of the company’s stock.

Shares of City Office REIT (NYSE:CIO) opened at 12.44 on Friday. The company’s market cap is $376.46 million. City Office REIT has a one year low of $11.43 and a one year high of $13.55. The firm has a 50-day moving average of $12.60 and a 200 day moving average of $12.51.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Tuesday, July 11th were given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.56%. The ex-dividend date of this dividend was Friday, July 7th. City Office REIT’s payout ratio is currently -723.08%.

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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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Earnings History and Estimates for City Office REIT (NYSE:CIO)

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