City Office REIT (NYSE:CIO) Shares Pass Above 50 Day Moving Average - Here's Why

Key Points

• City Office REIT's stock price has surpassed its 50-day moving average of $6.06, trading at a high of $6.94 with a recent last price of $6.93.
• Analysts maintain a "neutral" rating on City Office REIT with an average rating of "Hold," as the firm reported earnings per share of $0.28, matching expectations.
• The company declared a quarterly dividend of $0.10 per share, offering a 5.8% dividend yield, despite a negative payout ratio of -12.62% due to recent financial performance.

City Office REIT, Inc. (NYSE:CIO - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.06 and traded as high as $6.94. City Office REIT shares last traded at $6.93, with a volume of 140,587 shares traded.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott reissued a "neutral" rating on shares of City Office REIT in a research report on Friday, July 25th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".

City Office REIT Stock Performance

The business has a 50 day simple moving average of $6.18 and a 200 day simple moving average of $5.40. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $279.90 million, a PE ratio of -2.19, a PEG ratio of 1.12 and a beta of 1.73.

City Office REIT (NYSE:CIO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.28 EPS for the quarter, meeting analysts' consensus estimates of $0.28. City Office REIT had a negative return on equity of 20.26% and a negative net margin of 71.27%.The company had revenue of $42.20 million during the quarter, compared to analysts' expectations of $42.54 million. Equities research analysts predict that City Office REIT, Inc. will post 1 EPS for the current fiscal year.

City Office REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Thursday, July 10th. City Office REIT's dividend payout ratio is -12.62%.

Institutional Trading of City Office REIT

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in City Office REIT by 27.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,994 shares of the real estate investment trust's stock valued at $132,000 after acquiring an additional 5,205 shares during the period. Russell Investments Group Ltd. lifted its holdings in City Office REIT by 146.9% in the fourth quarter. Russell Investments Group Ltd. now owns 12,048 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 7,168 shares during the period. Barclays PLC lifted its holdings in City Office REIT by 6.8% in the fourth quarter. Barclays PLC now owns 66,170 shares of the real estate investment trust's stock valued at $366,000 after acquiring an additional 4,228 shares during the period. Jump Financial LLC lifted its holdings in City Office REIT by 216.1% in the fourth quarter. Jump Financial LLC now owns 36,031 shares of the real estate investment trust's stock valued at $199,000 after acquiring an additional 24,631 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in City Office REIT by 102.2% in the fourth quarter. MetLife Investment Management LLC now owns 25,117 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 12,698 shares during the period. 67.47% of the stock is owned by hedge funds and other institutional investors.

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.