City Office REIT, Inc. (NYSE:CIO) Issues Q4 Earnings Guidance
City Office REIT, Inc. (NYSE:CIO) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.29-0.31 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.29. City Office REIT also updated its FY17 guidance to $0.96-0.99 EPS.
Shares of City Office REIT, Inc. (NYSE:CIO) traded up 0.08% on Friday, hitting $12.54. The company’s stock had a trading volume of 96,437 shares. The firm has a market cap of $379.42 million, a PE ratio of 261.25 and a beta of 0.22. The company has a 50 day moving average of $12.63 and a 200 day moving average of $12.51. City Office REIT, Inc. has a 1-year low of $11.43 and a 1-year high of $13.62.
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 for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. City Office REIT had a return on equity of 2.90% and a net margin of 5.90%. The business had revenue of $25.16 million for the quarter, compared to analysts’ expectations of $26.18 million. During the same period in the prior year, the firm earned $0.22 EPS. Equities analysts forecast that City Office REIT, Inc. will post ($0.51) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Tuesday, July 11th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 7.50%. The ex-dividend date was Friday, July 7th. City Office REIT’s dividend payout ratio (DPR) is 1,175.00%.
A number of equities analysts recently issued reports on CIO shares. Deutsche Bank AG increased their price objective on City Office REIT from $14.00 to $15.00 and gave the stock a buy rating in a report on Thursday, May 25th. BidaskClub lowered City Office REIT from a hold rating to a sell rating in a report on Thursday, July 13th. FBR & Co started coverage on City Office REIT in a report on Tuesday, July 11th. They issued an outperform rating and a $14.50 price objective for the company. TheStreet lowered City Office REIT from a c- rating to a d rating in a report on Friday, April 7th. Finally, Zacks Investment Research raised City Office REIT from a hold rating to a buy rating and set a $14.00 price objective for the company in a report on Monday, May 8th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $14.67.
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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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