City Office REIT (CIO) to Release Quarterly Earnings on Friday

City Office REIT (NYSE:CIO) is scheduled to be releasing its earnings data before the market opens on Friday, May 3rd. Analysts expect City Office REIT to post earnings of $0.28 per share for the quarter. City Office REIT has set its FY 2024 guidance at 1.180-1.220 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

City Office REIT (NYSE:CIO) last issued its earnings results on Thursday, February 22nd. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.42). City Office REIT had a negative return on equity of 0.40% and a negative net margin of 1.50%. The business had revenue of $44.32 million for the quarter, compared to analyst estimates of $44.47 million. During the same period last year, the company posted $0.38 earnings per share. On average, analysts expect City Office REIT to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

City Office REIT Stock Down 0.2 %

CIO stock opened at $4.56 on Friday. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 1.01. City Office REIT has a fifty-two week low of $3.45 and a fifty-two week high of $6.70. The firm’s 50-day simple moving average is $4.58 and its 200 day simple moving average is $4.88. The stock has a market cap of $183.08 million, a PE ratio of -18.24, a price-to-earnings-growth ratio of 0.71 and a beta of 1.84.

City Office REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.77%. City Office REIT’s dividend payout ratio (DPR) is presently -160.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of City Office REIT from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th.

Insider Activity

In other news, Director Michael Mazan bought 39,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was bought at an average cost of $4.22 per share, for a total transaction of $164,580.00. Following the completion of the acquisition, the director now directly owns 39,000 shares in the company, valued at approximately $164,580. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.90% of the company’s stock.

City Office REIT Company Profile

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.7 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S.