City Office REIT (NYSE:CIO) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

City Office REIT, Inc. (NYSE:CIO) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.48 and traded as low as $5.14. City Office REIT shares last traded at $5.27, with a volume of 169,649 shares.

City Office REIT Price Performance

The stock’s 50 day simple moving average is $5.21 and its two-hundred day simple moving average is $5.48. The firm has a market capitalization of $212.81 million, a PE ratio of -8.50, a price-to-earnings-growth ratio of 0.86 and a beta of 1.98. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.42 and a current ratio of 2.42.

City Office REIT (NYSE:CIO) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.40. City Office REIT had a negative net margin of 10.33% and a negative return on equity of 2.74%. The firm had revenue of $41.92 million during the quarter, compared to the consensus estimate of $42.79 million. On average, sell-side analysts forecast that City Office REIT, Inc. will post 1 EPS for the current year.

City Office REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Investors of record on Friday, January 10th were given a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 7.59%. City Office REIT’s dividend payout ratio (DPR) is presently -64.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC grew its position in City Office REIT by 237.0% during the third quarter. Barclays PLC now owns 61,942 shares of the real estate investment trust’s stock worth $362,000 after buying an additional 43,562 shares during the period. Geode Capital Management LLC increased its position in City Office REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,026,928 shares of the real estate investment trust’s stock worth $5,998,000 after purchasing an additional 11,178 shares during the last quarter. Jane Street Group LLC increased its position in City Office REIT by 40.0% during the third quarter. Jane Street Group LLC now owns 54,987 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 15,704 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of City Office REIT by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 364,093 shares of the real estate investment trust’s stock worth $2,126,000 after acquiring an additional 16,828 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of City Office REIT by 34.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,546 shares of the real estate investment trust’s stock worth $546,000 after acquiring an additional 24,109 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors and hedge funds.

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.