City Office REIT (NYSE:CIO – Get Free Report) announced its quarterly earnings results on Thursday. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41), Zacks reports. The company had revenue of $42.34 million during the quarter, compared to the consensus estimate of $43.27 million. City Office REIT had a negative net margin of 4.02% and a negative return on equity of 1.06%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. City Office REIT updated its FY 2024 guidance to 1.140-1.180 EPS.
City Office REIT Price Performance
CIO stock traded down $0.25 during trading on Friday, hitting $5.46. 161,836 shares of the company’s stock traded hands, compared to its average volume of 221,156. The business has a fifty day simple moving average of $5.18 and a 200 day simple moving average of $4.93. City Office REIT has a 52 week low of $3.45 and a 52 week high of $6.70. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a market capitalization of $219.22 million, a price-to-earnings ratio of -19.50, a P/E/G ratio of 0.90 and a beta of 1.93.
City Office REIT Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.33%. The ex-dividend date of this dividend was Wednesday, July 10th. City Office REIT’s dividend payout ratio is presently -142.85%.
Analysts Set New Price Targets
Get Our Latest Research Report on CIO
City Office REIT Company Profile
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.
Recommended Stories
- Five stocks we like better than City Office REIT
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- What is Insider Trading? What You Can Learn from Insider Trading
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
- Low PE Growth Stocks: Unlocking Investment Opportunities
- 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.