City Office REIT, Inc. (CIO) to Release Earnings on Monday
City Office REIT, Inc. (NYSE:CIO) is scheduled to post its quarterly earnings results before the market opens on Monday, November 6th. Analysts expect City Office REIT to post earnings of ($0.17) per share for the quarter. City Office REIT has set its FY17 guidance at $0.96-0.99 EPS and its Q4 guidance at $0.29-0.31 EPS.
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 consensus estimate of $0.24 by $0.03. City Office REIT had a return on equity of 1.91% and a net margin of 3.70%. The business had revenue of $25.16 million during the quarter, compared to the consensus estimate of $26.18 million. During the same quarter last year, the firm posted $0.22 EPS. On average, analysts expect City Office REIT to post $0.96 EPS for the current fiscal year and $1.07 EPS for the next fiscal year.
Shares of City Office REIT, Inc. (CIO) opened at 13.10 on Monday. City Office REIT, Inc. has a one year low of $11.43 and a one year high of $13.93. The firm’s market cap is $396.43 million. The firm’s 50-day moving average price is $13.29 and its 200 day moving average price is $12.72.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Tuesday, October 10th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.18%. City Office REIT’s dividend payout ratio is presently -723.08%.
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In related news, CEO James Thomas Farrar acquired 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average price of $12.52 per share, with a total value of $75,120.00. Following the acquisition, the chief executive officer now owns 184,789 shares of the company’s stock, valued at approximately $2,313,558.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.
A number of research analysts have recently commented on the company. FBR & Co reaffirmed a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. ValuEngine raised City Office REIT from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. BidaskClub raised City Office REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research cut City Office REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average 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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