$0.28 EPS Expected for City Office REIT Inc (CIO) This Quarter

Wall Street analysts forecast that City Office REIT Inc (NYSE:CIO) will announce $0.28 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for City Office REIT’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.27. City Office REIT reported earnings of $0.23 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.7%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, March 1st.

On average, analysts expect that City Office REIT will report full year earnings of $0.94 per share for the current fiscal year, with EPS estimates ranging from $0.93 to $0.95. For the next fiscal year, analysts anticipate that the company will report earnings of $1.17 per share, with EPS estimates ranging from $1.11 to $1.28. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow City Office REIT.

A number of analysts have issued reports on CIO shares. Zacks Investment Research downgraded shares of City Office REIT from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a report on Friday, December 1st. B. Riley reiterated a “buy” rating and issued a $14.50 price target on shares of City Office REIT in a report on Tuesday, November 7th. Finally, Deutsche Bank downgraded shares of City Office REIT from a “buy” rating to a “hold” rating and reduced their target price for the stock from $16.00 to $13.00 in a report on Wednesday, January 10th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. City Office REIT currently has an average rating of “Hold” and a consensus price target of $14.25.

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of City Office REIT in the 3rd quarter worth about $121,000. Stevens Capital Management LP bought a new stake in shares of City Office REIT in the 3rd quarter worth about $180,000. Schroder Investment Management Group bought a new stake in shares of City Office REIT in the 4th quarter worth about $188,000. Voya Investment Management LLC increased its holdings in shares of City Office REIT by 18.8% in the 2nd quarter. Voya Investment Management LLC now owns 15,262 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 2,420 shares during the last quarter. Finally, Nationwide Fund Advisors increased its holdings in shares of City Office REIT by 21.0% in the 2nd 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. Hedge funds and other institutional investors own 52.17% of the company’s stock.

Shares of City Office REIT (CIO) traded down $0.02 during midday trading on Friday, reaching $10.45. 394,417 shares of the company’s stock were exchanged, compared to its average volume of 235,606. The company has a debt-to-equity ratio of 2.80, a quick ratio of 3.94 and a current ratio of 3.94. The company has a market cap of $376.33, a P/E ratio of -61.47, a P/E/G ratio of 1.09 and a beta of 0.09. City Office REIT has a one year low of $10.30 and a one year high of $13.93.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Thursday, January 11th were issued a $0.235 dividend. The ex-dividend date was Wednesday, January 10th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 9.00%. City Office REIT’s dividend payout ratio (DPR) is presently -552.94%.

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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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