Wall Street brokerages expect that City Office REIT, Inc. (NYSE:CIO) will report earnings per share (EPS) of $0.22 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for City Office REIT’s earnings. The lowest EPS estimate is $0.19 and the highest is $0.26. City Office REIT reported earnings per share of $0.27 in the same quarter last year, which indicates a negative year over year growth rate of 18.5%. The company is expected to announce its next earnings results on Monday, November 6th.

According to Zacks, analysts expect that City Office REIT will report full-year earnings of $0.97 per share for the current financial year, with EPS estimates ranging from $0.93 to $0.99. For the next fiscal year, analysts expect that the business will post earnings of $1.04 per share, with EPS estimates ranging from $0.98 to $1.08. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for City Office REIT.

City Office REIT (NYSE:CIO) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $25.16 million for the quarter, compared to analysts’ expectations of $26.18 million. City Office REIT had a return on equity of 1.91% and a net margin of 3.70%. During the same quarter in the prior year, the firm posted $0.22 earnings per share.

CIO has been the topic of several analyst reports. Zacks Investment Research raised shares of City Office REIT from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Monday, May 8th. FBR & Co initiated coverage on shares of City Office REIT in a research report on Tuesday, July 11th. They set an “outperform” rating and a $14.50 price target on the stock. Deutsche Bank AG lifted their price target on shares of City Office REIT from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. ValuEngine lowered shares of City Office REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, TheStreet raised shares of City Office REIT from a “d” rating to a “c” rating in a research report on Thursday, May 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.63.

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Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in shares of City Office REIT by 28.6% in the first quarter. Principal Financial Group Inc. now owns 987,936 shares of the real estate investment trust’s stock worth $12,003,000 after buying an additional 220,000 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of City Office REIT by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,112 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 45 shares during the last quarter. Legato Capital Management LLC raised its stake in shares of City Office REIT by 1,115.0% in the first quarter. Legato Capital Management LLC now owns 36,754 shares of the real estate investment trust’s stock worth $3,025,000 after buying an additional 33,729 shares during the last quarter. Northpointe Capital LLC raised its stake in shares of City Office REIT by 2.1% in the first quarter. Northpointe Capital LLC now owns 272,273 shares of the real estate investment trust’s stock worth $3,308,000 after buying an additional 5,597 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of City Office REIT by 21.1% in the first quarter. Nationwide Fund Advisors now owns 15,489 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 2,699 shares during the last quarter. 53.35% of the stock is currently owned by hedge funds and other institutional investors.

City Office REIT (NYSE:CIO) opened at 12.44 on Friday. The stock’s 50 day moving average price is $12.60 and its 200-day moving average price is $12.51. City Office REIT has a 1-year low of $11.43 and a 1-year high of $13.55. The company’s market cap is $376.46 million.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 7.56%. The ex-dividend date was Friday, July 7th. City Office REIT’s payout ratio is presently -723.08%.

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

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