City Office REIT (NYSE:CIO – Get Free Report) issued its quarterly earnings results on Thursday. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.36), Zacks reports. The business had revenue of $42.37 million for the quarter, compared to analyst estimates of $42.02 million. City Office REIT had a negative return on equity of 1.07% and a negative net margin of 4.02%. During the same quarter in the prior year, the company earned $0.34 EPS. City Office REIT updated its FY 2024 guidance to 1.150-1.170 EPS.
City Office REIT Stock Performance
Shares of CIO stock traded down $0.04 during midday trading on Friday, hitting $5.08. The company had a trading volume of 143,342 shares, compared to its average volume of 209,273. The stock has a market cap of $203.98 million, a price-to-earnings ratio of -13.97, a PEG ratio of 0.86 and a beta of 1.95. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.80 and a quick ratio of 2.80. The company’s 50 day simple moving average is $5.81 and its 200 day simple moving average is $5.33. City Office REIT has a 52-week low of $3.87 and a 52-week high of $6.70.
City Office REIT Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.87%. The ex-dividend date of this dividend was Thursday, October 10th. City Office REIT’s dividend payout ratio is presently -111.11%.
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.
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