City Office REIT (CIO) Earning Somewhat Favorable News Coverage, Report Finds

Media stories about City Office REIT (NYSE:CIO) have been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research firm identifies positive and negative media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. City Office REIT earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave media headlines about the real estate investment trust an impact score of 46.0117701491808 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded City Office REIT from a “strong sell” rating to a “hold” rating in a report on Monday, January 29th. Deutsche Bank lowered City Office REIT from a “buy” rating to a “hold” rating and decreased their price target for the company from $16.00 to $13.00 in a report on Wednesday, January 10th. ValuEngine lowered City Office REIT from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, B. Riley set a $14.00 price target on City Office REIT and gave the company a “buy” rating in a report on Friday, March 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $14.13.

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NYSE:CIO opened at $11.36 on Friday. City Office REIT has a fifty-two week low of $10.03 and a fifty-two week high of $13.93. The firm has a market cap of $417.89, a P/E ratio of 11.71, a P/E/G ratio of 1.20 and a beta of 0.12. The company has a debt-to-equity ratio of 1.98, a quick ratio of 3.13 and a current ratio of 3.13.

City Office REIT (NYSE:CIO) last released its quarterly earnings results on Thursday, March 1st. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.36). City Office REIT had a net margin of 5.41% and a return on equity of 2.74%. The company had revenue of $31.18 million for the quarter, compared to analysts’ expectations of $29.26 million. During the same quarter in the previous year, the company posted $0.23 EPS. The business’s quarterly revenue was up 46.4% on a year-over-year basis. sell-side analysts forecast that City Office REIT will post 1.08 EPS for the current year.

City Office REIT announced that its board has authorized a share repurchase program on Thursday, March 1st that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Wednesday, April 11th will be paid a $0.235 dividend. The ex-dividend date is Tuesday, April 10th. This represents a $0.94 dividend on an annualized basis and a yield of 8.27%. City Office REIT’s payout ratio is 96.91%.

In other City Office REIT news, Director Stephen B. Shraiberg bought 10,000 shares of City Office REIT stock in a transaction on Thursday, March 8th. The shares were acquired at an average price of $11.05 per share, for a total transaction of $110,500.00. Following the completion of the purchase, the director now directly owns 71,681 shares in the company, valued at approximately $792,075.05. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

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About City Office REIT

City Office REIT, Inc(NYSE: CIO) invests in high-quality office properties in mid-sized metropolitan areas with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2017, CIO owned office complexes comprising 5.2 million square feet of net rentable area (?NRA?).

Insider Buying and Selling by Quarter for City Office REIT (NYSE:CIO)

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