City Office REIT (NYSE:CIO – Get Free Report) announced its quarterly earnings data on Thursday. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41), Zacks reports. City Office REIT had a negative net margin of 4.02% and a negative return on equity of 1.06%. The company had revenue of $42.34 million during the quarter, compared to analysts’ expectations of $43.27 million. During the same quarter in the previous year, the business posted $0.35 EPS. City Office REIT updated its FY 2024 guidance to 1.140-1.180 EPS.
City Office REIT Stock Down 4.4 %
Shares of CIO traded down $0.25 during mid-day trading on Friday, reaching $5.46. The company’s stock had a trading volume of 161,836 shares, compared to its average volume of 221,156. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.23 and a quick ratio of 3.23. City Office REIT has a 12-month low of $3.45 and a 12-month high of $6.70. The stock has a market cap of $219.22 million, a PE ratio of -19.50, a price-to-earnings-growth ratio of 0.90 and a beta of 1.93. The company’s 50 day moving average is $5.18 and its 200 day moving average is $4.93.
City Office REIT Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, July 10th. This represents a $0.40 annualized dividend and a dividend yield of 7.33%. City Office REIT’s dividend payout ratio is currently -142.85%.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on City Office REIT
About City Office REIT
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.
Featured Articles
- Five stocks we like better than City Office REIT
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- ESG Stocks, What Investors Should Know
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Intel Loses a Quarter of Its Value After Horrible Earnings Report
Receive News & Ratings for City Office REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Office REIT and related companies with MarketBeat.com's FREE daily email newsletter.