Wall Street analysts expect City Office REIT Inc (NYSE:CIO) to report earnings of $0.29 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for City Office REIT’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.32. City Office REIT reported earnings of $0.31 per share in the same quarter last year, which suggests a negative year over year growth rate of 6.5%. The business is expected to issue its next quarterly earnings report on Thursday, March 7th.

According to Zacks, analysts expect that City Office REIT will report full-year earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $1.08 to $1.13. For the next financial year, analysts forecast that the firm will report earnings of $1.23 per share, with EPS estimates ranging from $1.20 to $1.27. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for City Office REIT.

City Office REIT (NYSE:CIO) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported ($0.08) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). City Office REIT had a return on equity of 15.81% and a net margin of 34.71%. The company had revenue of $33.55 million during the quarter, compared to analyst estimates of $33.16 million.

Several equities research analysts have commented on the company. Zacks Investment Research lowered City Office REIT from a “hold” rating to a “sell” rating in a research note on Tuesday. B. Riley boosted their price objective on City Office REIT from $13.50 to $14.00 and gave the stock a “buy” rating in a research note on Monday, August 6th. Boenning Scattergood set a $15.00 price objective on City Office REIT and gave the stock a “buy” rating in a research note on Monday, November 5th. TheStreet lowered City Office REIT from a “b-” rating to a “c+” rating in a research note on Thursday, October 11th. Finally, ValuEngine lowered City Office REIT from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.17.

NYSE:CIO traded down $0.28 during trading hours on Friday, hitting $11.18. 158,254 shares of the stock were exchanged, compared to its average volume of 279,202. City Office REIT has a 52-week low of $10.03 and a 52-week high of $13.43. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.80. The firm has a market cap of $448.43 million, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.18 and a beta of 0.33.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Thursday, October 11th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 8.41%. The ex-dividend date was Wednesday, October 10th. City Office REIT’s dividend payout ratio is currently 96.91%.

In related news, Director Stephen B. Shraiberg bought 35,000 shares of the stock in a transaction dated Monday, November 5th. The shares were acquired at an average cost of $10.79 per share, for a total transaction of $377,650.00. Following the acquisition, the director now directly owns 84,185 shares in the company, valued at approximately $908,356.15. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of City Office REIT by 13.3% during the 3rd quarter. BlackRock Inc. now owns 2,254,849 shares of the real estate investment trust’s stock worth $28,455,000 after purchasing an additional 265,203 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of City Office REIT by 24.6% during the 3rd quarter. Martingale Asset Management L P now owns 267,091 shares of the real estate investment trust’s stock worth $3,371,000 after purchasing an additional 52,694 shares during the last quarter. AXA acquired a new position in shares of City Office REIT during the 3rd quarter worth approximately $252,000. Alliancebernstein L.P. boosted its holdings in shares of City Office REIT by 601.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,690,383 shares of the real estate investment trust’s stock worth $33,953,000 after purchasing an additional 2,306,960 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of City Office REIT by 1,196.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 157,797 shares of the real estate investment trust’s stock worth $1,992,000 after purchasing an additional 145,624 shares during the last quarter. Institutional investors and hedge funds own 68.22% of the company’s stock.

About City Office REIT

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At June 30, 2018, CIO owned office complexes comprising 4.9 million square feet of net rentable area (“NRA”).

Featured Story: How does a reverse stock split work?

Get a free copy of the Zacks research report on City Office REIT (CIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.