Wall Street brokerages forecast that City Office REIT Inc (NYSE:CIO) will report earnings of $0.28 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for City Office REIT’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.27. City Office REIT reported earnings of $0.31 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 9.7%. The firm is scheduled to announce its next quarterly earnings report on Thursday, March 7th.

According to Zacks, analysts expect that City Office REIT will report full-year earnings of $1.09 per share for the current financial year, with EPS estimates ranging from $1.08 to $1.10. For the next year, analysts anticipate that the company will report earnings of $1.23 per share, with EPS estimates ranging from $1.20 to $1.25. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow City Office REIT.

City Office REIT (NYSE:CIO) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $33.55 million for the quarter, compared to analyst estimates of $33.16 million. City Office REIT had a net margin of 34.71% and a return on equity of 15.81%.

A number of brokerages have issued reports on CIO. Zacks Investment Research lowered shares of City Office REIT from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. ValuEngine raised shares of City Office REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. TheStreet lowered shares of City Office REIT from a “b-” rating to a “c+” rating in a research note on Thursday, October 11th. Finally, Boenning Scattergood set a $15.00 target price on shares of City Office REIT and gave the company a “buy” rating in a research note on Monday, November 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.80.

In related news, Director Stephen B. Shraiberg bought 35,000 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $10.79 per share, with a total value of $377,650.00. Following the purchase, the director now owns 84,185 shares of the company’s stock, valued at approximately $908,356.15. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Gregory Tylee bought 5,000 shares of the business’s stock in a transaction dated Thursday, December 27th. The shares were bought at an average cost of $9.83 per share, for a total transaction of $49,150.00. The disclosure for this purchase can be found here. Insiders have bought a total of 41,000 shares of company stock worth $437,500 in the last ninety days. Insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in City Office REIT by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,558,011 shares of the real estate investment trust’s stock valued at $44,902,000 after acquiring an additional 365,328 shares during the period. Vanguard Group Inc lifted its position in City Office REIT by 11.4% during the 3rd quarter. Vanguard Group Inc now owns 3,558,011 shares of the real estate investment trust’s stock valued at $44,902,000 after acquiring an additional 365,328 shares during the period. Alliancebernstein L.P. lifted its position in City Office REIT by 601.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,690,383 shares of the real estate investment trust’s stock valued at $33,953,000 after acquiring an additional 2,306,960 shares during the period. BlackRock Inc. lifted its position in City Office REIT by 13.3% during the 3rd quarter. BlackRock Inc. now owns 2,254,849 shares of the real estate investment trust’s stock valued at $28,455,000 after acquiring an additional 265,203 shares during the period. Finally, Renaissance Technologies LLC lifted its position in City Office REIT by 25.6% during the 3rd quarter. Renaissance Technologies LLC now owns 1,957,339 shares of the real estate investment trust’s stock valued at $24,702,000 after acquiring an additional 398,839 shares during the period. 73.41% of the stock is owned by institutional investors.

City Office REIT stock traded down $0.30 during trading hours on Friday, reaching $11.14. The stock had a trading volume of 5,004 shares, compared to its average volume of 388,778. The firm has a market cap of $464.64 million, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.11 and a beta of 0.39. City Office REIT has a 52 week low of $9.73 and a 52 week high of $13.20. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 1.80.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Friday, January 11th will be paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date is Thursday, January 10th. City Office REIT’s payout ratio is 96.91%.

About City Office REIT

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2018, CIO owned office complexes comprising 5.3 million square feet of net rentable area (“NRA”).

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