City Office REIT (NYSE:CIO) Share Price Crosses Above Fifty Day Moving Average - Should You Sell?

City Office REIT, Inc. (NYSE:CIO - Get Free Report)'s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.13 and traded as high as $5.60. City Office REIT shares last traded at $5.60, with a volume of 52,229 shares.

City Office REIT Stock Up 1.8%

The stock's fifty day simple moving average is $5.13 and its 200-day simple moving average is $5.11. The stock has a market cap of $226.02 million, a P/E ratio of -8.62, a P/E/G ratio of 0.89 and a beta of 1.65. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.29 and a current ratio of 3.29.

City Office REIT (NYSE:CIO - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. The company had revenue of $42.26 million during the quarter, compared to the consensus estimate of $42.38 million. City Office REIT had a negative net margin of 11.11% and a negative return on equity of 2.98%. As a group, research analysts forecast that City Office REIT, Inc. will post 1 earnings per share for the current fiscal year.

City Office REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.14%. City Office REIT's payout ratio is -61.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CIO. Price T Rowe Associates Inc. MD lifted its stake in City Office REIT by 21.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,975 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 2,806 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of City Office REIT by 9.0% during the 4th quarter. Quantinno Capital Management LP now owns 42,213 shares of the real estate investment trust's stock worth $233,000 after buying an additional 3,491 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of City Office REIT by 2.2% during the 1st quarter. Victory Capital Management Inc. now owns 178,000 shares of the real estate investment trust's stock worth $924,000 after buying an additional 3,821 shares during the last quarter. Barclays PLC lifted its position in shares of City Office REIT by 6.8% during the 4th quarter. Barclays PLC now owns 66,170 shares of the real estate investment trust's stock worth $366,000 after buying an additional 4,228 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in City Office REIT by 6.1% in the first quarter. Cubist Systematic Strategies LLC now owns 80,451 shares of the real estate investment trust's stock valued at $418,000 after buying an additional 4,646 shares in the last quarter. Institutional investors own 67.47% of the company's stock.

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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