Somewhat Favorable Media Coverage Somewhat Unlikely to Impact City Office REIT (CIO) Share Price
Media headlines about City Office REIT (NYSE:CIO) have trended somewhat positive recently, Accern reports. The research firm identifies positive and negative news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. City Office REIT earned a daily sentiment score of 0.17 on Accern’s scale. Accern also assigned media stories about the real estate investment trust an impact score of 46.1258783878967 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:
- City Office REIT : Rhumbline Advisers Buys 8,410 Shares of City Office REIT, Inc (4-traders.com)
- City Office REIT (CIO) and Its Rivals Head-To-Head Comparison (americanbankingnews.com)
- City Office REIT, Inc. (CIO) Ex-Dividend Date Scheduled for October (nasdaq.com)
- City Office REIT, Inc. (CIO) Receives Buy Rating from FBR & Co (americanbankingnews.com)
Several analysts have recently weighed in on the stock. FBR & Co restated a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Zacks Investment Research downgraded shares of City Office REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, BidaskClub upgraded shares of City Office REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.63.
Shares of City Office REIT (NYSE:CIO) remained flat at $13.34 during mid-day trading on Thursday. The company had a trading volume of 203,495 shares. The stock’s market capitalization is $403.70 million. The company’s 50 day moving average is $13.09 and its 200-day moving average is $12.62. City Office REIT has a 52 week low of $11.43 and a 52 week high of $13.93.
City Office REIT (NYSE:CIO) last released 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 net margin of 3.70% and a return on equity of 1.91%. The business had revenue of $25.16 million during the quarter, compared to the consensus estimate of $26.18 million. During the same quarter last year, the company earned $0.22 earnings per share. Analysts predict that City Office REIT will post ($0.17) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date of this dividend is Tuesday, October 10th. City Office REIT’s payout ratio is currently -723.08%.
In related news, CEO James Thomas Farrar purchased 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average price of $12.52 per share, with a total value of $75,120.00. Following the completion of the transaction, the chief executive officer now owns 184,789 shares of the company’s stock, valued at $2,313,558.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by company insiders.
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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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