City Office REIT (CIO) to Release Quarterly Earnings on Friday

City Office REIT (NYSE:CIO) will be releasing its earnings data 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.Persons interested in participating in the company’s earnings conference call can do so using this link.

City Office REIT (NYSE:CIO) last issued its quarterly earnings data on Thursday, February 22nd. The real estate investment trust reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.42). City Office REIT had a negative net margin of 1.50% and a negative return on equity of 0.40%. The firm had revenue of $44.32 million for the quarter, compared to analysts’ expectations of $44.47 million. During the same period in the prior year, the firm posted $0.38 EPS. 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 Price Performance

CIO stock opened at $4.56 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.33 and a quick ratio of 3.33. City Office REIT has a one year low of $3.45 and a one year high of $6.70. The stock has a market cap of $183.08 million, a PE ratio of -18.24, a P/E/G ratio of 0.71 and a beta of 1.84. The firm has a 50 day simple moving average of $4.58 and a two-hundred day simple moving average of $4.88.

City Office REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were paid a $0.10 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $0.40 dividend on an annualized basis and a yield of 8.77%. City Office REIT’s dividend payout ratio is presently -160.00%.

Wall Street Analysts Forecast Growth

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

Insider Activity at City Office REIT

In other news, Director Michael Mazan purchased 39,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was bought at an average cost of $4.22 per share, for a total transaction of $164,580.00. Following the acquisition, the director now directly owns 39,000 shares of the company’s stock, valued at approximately $164,580. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by company insiders.

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.