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

Posted by Jared Coughlin 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 earnings per share (EPS) guidance of 1.150-1.170 for the period, compared to the consensus estimate of 1.170. The company issued revenue guidance of -.

City Office REIT Price Performance

City Office REIT stock opened at $5.39 on Thursday. The stock has a market capitalization of $216.43 million, a price-to-earnings ratio of -19.25, a PEG ratio of 0.92 and a beta of 1.95. City Office REIT has a 52-week low of $3.69 and a 52-week high of $6.70. The stock’s 50 day moving average price is $5.82 and its two-hundred day moving average price 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 announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). The business had revenue of $42.34 million for the quarter, compared to the consensus estimate of $43.27 million. City Office REIT had a negative net margin of 4.02% and a negative return on equity of 1.07%. During the same quarter last year, the firm posted $0.35 EPS. On average, equities analysts predict that City Office REIT will post 1.04 earnings per share for the current year.

City Office REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 7.42%. The ex-dividend date of this dividend 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.