City Office REIT (CIO) to Release Earnings on Friday

City Office REIT (NYSE:CIO) is scheduled to 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 listening to the company’s earnings conference call can do so using this link.

City Office REIT (NYSE:CIO) last announced its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $44.32 million during the quarter, compared to analysts’ expectations of $44.47 million. During the same period last year, the firm earned $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 Price Performance

Shares of NYSE:CIO opened at $4.66 on Wednesday. The company has a 50-day simple moving average of $4.57 and a 200-day simple moving average of $4.91. City Office REIT has a one year low of $3.45 and a one year high of $6.70. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.33 and a current ratio of 3.33. The stock has a market capitalization of $187.10 million, a price-to-earnings ratio of -18.64, a PEG ratio of 0.70 and a beta of 1.84.

City Office REIT Dividend Announcement

The firm 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 was Tuesday, April 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.58%. City Office REIT’s payout ratio is -160.00%.

Insider Activity

In other City Office REIT news, Director Michael Mazan bought 39,000 shares of City Office REIT stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average cost of $4.22 per share, with a total value of $164,580.00. Following the completion of the acquisition, the director now owns 39,000 shares of the company’s stock, valued at $164,580. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

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

About City Office REIT

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.