City Office REIT (NYSE:CIO – Get Free Report) released 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 net margin of 4.02% and a negative return on equity of 1.07%. The company had revenue of $42.37 million for the quarter, compared to the consensus estimate of $42.02 million. During the same period last year, the company earned $0.34 earnings per share. City Office REIT updated its FY 2024 guidance to 1.150-1.170 EPS.
City Office REIT Trading Down 1.8 %
CIO stock traded down $0.09 during midday trading on Friday, reaching $5.03. The company’s stock had a trading volume of 65,183 shares, compared to its average volume of 208,887. City Office REIT has a 52 week low of $3.87 and a 52 week high of $6.70. The stock has a market cap of $201.97 million, a PE ratio of -14.28, a price-to-earnings-growth ratio of 0.86 and a beta of 1.95. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 1.00. The business’s 50-day simple moving average is $5.81 and its 200-day simple moving average is $5.33.
City Office REIT Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a $0.10 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.40 dividend on an annualized basis and a yield of 7.95%. City Office REIT’s payout ratio is presently -111.11%.
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.
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