City Office REIT (NYSE:CIO – Get Free Report) posted its quarterly earnings results on Thursday. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.36), Zacks reports. City Office REIT had a negative return on equity of 1.07% and a negative net margin of 4.02%. The business had revenue of $42.37 million during the quarter, compared to analyst estimates of $42.02 million. During the same period last year, the company earned $0.34 EPS. City Office REIT updated its FY 2024 guidance to 1.150-1.170 EPS.
City Office REIT Price Performance
Shares of CIO traded down $0.09 during mid-day trading on Friday, hitting $5.03. 65,183 shares of the company traded hands, compared to its average volume of 208,887. City Office REIT has a one year low of $3.87 and a one year high of $6.70. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average of $5.81 and a 200 day moving average of $5.33. The stock has a market capitalization of $201.97 million, a price-to-earnings ratio of -14.28, a PEG ratio of 0.86 and a beta of 1.95.
City Office REIT Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.95%. The ex-dividend date was Thursday, October 10th. City Office REIT’s payout ratio is -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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