City Office REIT (NYSE:CIO) Issues FY 2024 Earnings Guidance

Posted by Caroline Horne on Oct 31st, 2024

City Office REIT (NYSE:CIO – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.150-1.170 for the period, compared to the consensus EPS estimate of 1.170. The company issued revenue guidance of -.

City Office REIT Stock Down 0.7 %

City Office REIT stock opened at $5.39 on Thursday. City Office REIT has a fifty-two week low of $3.69 and a fifty-two week high of $6.70. The stock has a market cap of $216.43 million, a PE ratio of -19.25, a price-to-earnings-growth ratio of 0.92 and a beta of 1.95. The firm’s 50-day simple moving average is $5.82 and its 200 day simple moving average is $5.33. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.80 and a current ratio of 2.80.

City Office REIT (NYSE:CIO – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.41). 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 $42.34 million for the quarter, compared to analysts’ expectations of $43.27 million. During the same quarter last year, the firm posted $0.35 earnings per share. Research analysts predict that City Office REIT will post 1.04 EPS for the current fiscal year.

City Office REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.42%. The ex-dividend date was Thursday, October 10th. City Office REIT’s dividend payout ratio (DPR) is presently -142.86%.

City Office REIT Company Profile

(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.