Zacks: Analysts Expect City Office REIT Inc (CIO) to Announce $0.28 EPS

Equities analysts expect City Office REIT Inc (NYSE:CIO) to announce $0.28 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for City Office REIT’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.29. City Office REIT posted earnings per share of $0.23 in the same quarter last year, which would suggest a positive year over year growth rate of 21.7%. The business is scheduled to announce its next earnings results on Thursday, March 1st.

On average, analysts expect that City Office REIT will report full-year earnings of $0.94 per share for the current financial year, with EPS estimates ranging from $0.93 to $0.95. For the next year, analysts anticipate that the company will report earnings of $1.21 per share, with EPS estimates ranging from $1.13 to $1.28. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for City Office REIT.

A number of brokerages have weighed in on CIO. FBR & Co reissued a “buy” rating on shares of City Office REIT in a report on Friday, October 6th. ValuEngine raised shares of City Office REIT from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of City Office REIT from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, B. Riley reissued a “buy” rating and set a $14.50 target price on shares of City Office REIT in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $14.75.

Shares of City Office REIT (CIO) traded up $0.10 during trading hours on Monday, hitting $12.89. 173,200 shares of the company’s stock were exchanged, compared to its average volume of 285,325. The firm has a market capitalization of $450.30, a PE ratio of -75.82, a price-to-earnings-growth ratio of 1.39 and a beta of 0.22. City Office REIT has a 52 week low of $11.43 and a 52 week high of $13.93. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 2.80.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 11th will be given a dividend of $0.235 per share. The ex-dividend date is Wednesday, January 10th. This represents a $0.94 annualized dividend and a dividend yield of 7.29%. City Office REIT’s dividend payout ratio is currently -552.94%.

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of City Office REIT during the third quarter worth about $121,000. Stevens Capital Management LP bought a new position in shares of City Office REIT during the third quarter worth about $180,000. Voya Investment Management LLC grew its position in shares of City Office REIT by 18.8% during the second quarter. Voya Investment Management LLC now owns 15,262 shares of the real estate investment trust’s stock worth $194,000 after acquiring an additional 2,420 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of City Office REIT by 21.0% during the second quarter. Nationwide Fund Advisors now owns 18,734 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 3,245 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of City Office REIT by 27.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 25,680 shares of the real estate investment trust’s stock worth $354,000 after acquiring an additional 5,491 shares during the last quarter. Institutional investors and hedge funds own 48.27% of the company’s stock.

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About City Office REIT

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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