City Office REIT (NYSE:CIO) Releases FY 2024 Earnings Guidance

City Office REIT (NYSE:CIO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.150-1.170 for the period, compared to the consensus estimate of 1.170. The company issued revenue guidance of -.

City Office REIT Stock Down 0.8 %

CIO stock traded down $0.04 during trading on Friday, hitting $5.08. 143,347 shares of the company’s stock traded hands, compared to its average volume of 209,273. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $203.98 million, a P/E ratio of -14.10, a PEG ratio of 0.86 and a beta of 1.95. The business has a fifty day simple moving average of $5.79 and a two-hundred day simple moving average of $5.34. City Office REIT has a 1 year low of $3.87 and a 1 year high of $6.70.

City Office REIT (NYSE:CIO) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.36). The firm had revenue of $42.37 million during the quarter, compared to analysts’ expectations of $42.02 million. City Office REIT had a negative return on equity of 1.07% and a negative net margin of 4.02%. During the same period in the prior year, the firm posted $0.34 earnings per share. Sell-side analysts anticipate that City Office REIT will post 1.04 EPS for the current year.

City Office REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date of this dividend was Thursday, October 10th. City Office REIT’s dividend payout ratio is presently -111.11%.

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.