City Office REIT (NYSE:CIO) Issues Earnings Results

City Office REIT (NYSE:CIOGet Free Report) announced its quarterly earnings results on Thursday. The real estate investment trust reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.36), Zacks reports. City Office REIT had a negative return on equity of 1.07% and a negative net margin of 4.02%. The firm had revenue of $42.37 million for the quarter, compared to analysts’ expectations of $42.02 million. During the same period last year, the firm earned $0.34 EPS. City Office REIT updated its FY 2024 guidance to 1.150-1.170 EPS.

City Office REIT Price Performance

Shares of NYSE:CIO traded down $0.04 during midday trading on Friday, hitting $5.08. 143,342 shares of the stock were exchanged, compared to its average volume of 209,273. City Office REIT has a twelve month low of $3.87 and a twelve month high of $6.70. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average price of $5.81 and a 200-day moving average price of $5.33. The stock has a market cap of $203.98 million, a P/E ratio of -13.97, a PEG ratio of 0.86 and a beta of 1.95.

City Office REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date was Thursday, October 10th. City Office REIT’s dividend payout ratio is currently -111.11%.

About City Office REIT

(Get Free Report)

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.

See Also

Earnings History for City Office REIT (NYSE:CIO)

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