FY2019 Earnings Forecast for City Office REIT Inc Issued By B. Riley (NYSE:CIO)

City Office REIT Inc (NYSE:CIO) – Analysts at B. Riley issued their FY2019 earnings per share (EPS) estimates for City Office REIT in a note issued to investors on Tuesday, November 5th. B. Riley analyst C. Kucera expects that the real estate investment trust will earn $0.90 per share for the year. B. Riley has a “Buy” rating and a $13.50 price objective on the stock. B. Riley also issued estimates for City Office REIT’s Q4 2019 earnings at $0.23 EPS, Q1 2020 earnings at $0.23 EPS, Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.23 EPS, Q4 2020 earnings at $0.23 EPS and FY2020 earnings at $0.90 EPS.

A number of other analysts have also issued reports on the company. Zacks Investment Research raised City Office REIT from a “sell” rating to a “hold” rating in a report on Thursday. JMP Securities raised their target price on City Office REIT from $14.00 to $15.00 and gave the company a “market outperform” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $14.00.

CIO traded down $0.29 during midday trading on Friday, reaching $13.29. The company’s stock had a trading volume of 20,221 shares, compared to its average volume of 589,436. The stock has a market cap of $728.20 million, a P/E ratio of 12.31, a PEG ratio of 1.43 and a beta of 0.44. The company has a fifty day simple moving average of $13.74 and a 200 day simple moving average of $12.74. The company has a current ratio of 2.26, a quick ratio of 2.70 and a debt-to-equity ratio of 1.83. City Office REIT has a twelve month low of $9.73 and a twelve month high of $14.50.

A number of institutional investors and hedge funds have recently bought and sold shares of CIO. Private Advisor Group LLC grew its stake in shares of City Office REIT by 5.1% in the 2nd quarter. Private Advisor Group LLC now owns 15,992 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 778 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of City Office REIT by 12.7% in the 2nd quarter. WINTON GROUP Ltd now owns 12,236 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 1,378 shares in the last quarter. Royal Bank of Canada grew its stake in shares of City Office REIT by 3.1% in the 2nd quarter. Royal Bank of Canada now owns 48,150 shares of the real estate investment trust’s stock worth $577,000 after buying an additional 1,427 shares in the last quarter. Eidelman Virant Capital lifted its holdings in shares of City Office REIT by 3.8% in the 3rd quarter. Eidelman Virant Capital now owns 45,600 shares of the real estate investment trust’s stock worth $656,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of City Office REIT by 31.9% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 2,000 shares during the last quarter. 60.58% of the stock is owned by institutional investors.

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a dividend of $0.235 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.94 annualized dividend and a yield of 7.07%. City Office REIT’s 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”).

Further Reading: Do investors pay a separate front-end load every time they buy additional shares?

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

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