City Office REIT (CIO) to Release Earnings on Friday

City Office REIT (NYSE:CIO) will post its quarterly earnings results before the market opens on Friday, May 3rd. Analysts expect City Office REIT to post earnings of $0.28 per share for the quarter. City Office REIT has set its FY 2024 guidance at 1.180-1.220 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

City Office REIT (NYSE:CIO) last issued its earnings results on Thursday, February 22nd. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.42). City Office REIT had a negative return on equity of 0.40% and a negative net margin of 1.50%. The firm had revenue of $44.32 million during the quarter, compared to the consensus estimate of $44.47 million. During the same period last year, the firm posted $0.38 earnings per share. On average, analysts expect City Office REIT to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

City Office REIT Trading Up 0.4 %

Shares of CIO stock opened at $4.66 on Wednesday. City Office REIT has a 12-month low of $3.45 and a 12-month high of $6.70. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 1.01. The stock’s 50-day moving average price is $4.57 and its 200-day moving average price is $4.91. The stock has a market capitalization of $187.10 million, a price-to-earnings ratio of -18.64, a price-to-earnings-growth ratio of 0.70 and a beta of 1.84.

City Office REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.40 annualized dividend and a dividend yield of 8.58%. City Office REIT’s dividend payout ratio (DPR) is -160.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised City Office REIT from a “sell” rating to a “hold” rating in a report on Thursday, April 11th.

Insider Transactions at City Office REIT

In related news, Director Michael Mazan purchased 39,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was bought at an average price of $4.22 per share, for a total transaction of $164,580.00. Following the completion of the transaction, the director now owns 39,000 shares in the company, valued at approximately $164,580. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.90% of the company’s stock.

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.