NYSE:CIO

City Office REIT (CIO) Stock Forecast, Price & News

$5.05

+0.35 (+7.45%)

(As of 06/2/2023 ET)

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Today's Range: $4.75
▼
$5.11
50-Day Range: $4.26
▼
$6.99
52-Week Range: $4.03
▼
$14.24

Volume: 581,139 shs
Average Volume: 891,962 shs
Market Capitalization: $201.70 million

P/E Ratio: N/A
Dividend Yield: 15.84%
Price Target: $10.33

City Office REIT MarketRank™ Forecast

Analyst Rating: Hold
2.33 Rating Score
Upside/Downside: 104.6% Upside
$10.33 Price Target
Short Interest: Healthy
2.02% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: -3.14
Upright™ Environmental Score
News Sentiment: 0.19
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 0.76%
From $1.31 to $1.32 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.45 out of 5 stars

Finance Sector

468th out of 873 stocks

Real Estate Investment Trusts Industry

90th out of 191 stocks

3.2

Analyst's Opinion

Consensus Rating
City Office REIT has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 1 buy rating, 2 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $10.33, City Office REIT has a forecasted upside of 104.6% from its current price of $5.05.
Amount of Analyst Coverage
City Office REIT has received no research coverage in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
2.02% of the float of City Office REIT has been sold short.
Short Interest Ratio / Days to Cover
City Office REIT has a short interest ratio ("days to cover") of 1.6, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in City Office REIT has recently increased by 15.96%, indicating that investor sentiment is decreasing significantly.

2.5

Dividend Strength

Dividend Leadership
City Office REIT is a leading dividend payer. It pays a dividend yield of 15.84%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
City Office REIT does not have a long track record of dividend growth.
Dividend Sustainability
Based on earnings estimates, City Office REIT will have a dividend payout ratio of 60.61% next year. This indicates that City Office REIT will be able to sustain or increase its dividend.

1.1

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
City Office REIT has received a -45.64% net impact score from Upright. The largest negative impact of City Office REIT in category "GHG emissions" is driven by its "Real estate funds investing in office buildings" product. See details.
Environmental Sustainability
The Environmental Impact score for City Office REIT is -3.14.

1.8

News and Social Media Coverage

News Sentiment
City Office REIT has a news sentiment score of 0.19. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.63 average news sentiment score of Finance companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for City Office REIT this week, compared to 2 articles on an average week.
Search Interest
Only 5 people have searched for CIO on MarketBeat in the last 30 days. This is a decrease of -86% compared to the previous 30 days.
MarketBeat Follows
Only 4 people have added City Office REIT to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, City Office REIT insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 3.40% of the stock of City Office REIT is held by insiders.
Percentage Held by Institutions
76.80% of the stock of City Office REIT is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for City Office REIT are expected to grow by 0.76% in the coming year, from $1.31 to $1.32 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of City Office REIT is -13.65, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of City Office REIT is -13.65, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Growth Ratio
City Office REIT has a PEG Ratio of 0.64. PEG Ratios below 1 indicate that a company could be undervalued.
Price to Book Value per Share Ratio
City Office REIT has a P/B Ratio of 0.30. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About City Office REIT (NYSE:CIO) Stock

City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. The company was founded on November 26, 2013 and is headquartered in Vancouver, Canada.

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CIO Stock News Headlines

June 3, 2023 | americanbankingnews.com

StockNews.com Upgrades City Office REIT (NYSE:CIO) to Hold

June 1, 2023 | americanbankingnews.com

Royal Bank of Canada Lowers City Office REIT (NYSE:CIO) Price Target to $7.00

June 4, 2023 | Legacy Research (Affiliate) (Ad)

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May 30, 2023 | msn.com

RBC Capital Maintains City Office REIT (CIO) Sector Perform Recommendation

May 30, 2023 | markets.businessinsider.com

City Office REIT (CIO) Receives a Hold from RBC Capital

May 27, 2023 | americanbankingnews.com

City Office REIT (NYSE:CIO) Rating Lowered to Sell at StockNews.com

May 20, 2023 | americanbankingnews.com

Critical Comparison: City Office REIT (NYSE:CIO) vs. ACRES Commercial Realty (NYSE:ACR)

May 15, 2023 | americanbankingnews.com

City Office REIT, Inc. (NYSE:CIO) Short Interest Update

June 4, 2023 | Vantage Point (Ad)

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May 13, 2023 | americanbankingnews.com

City Office REIT (NYSE:CIO) Upgraded to "Hold" at StockNews.com

May 7, 2023 | americanbankingnews.com

City Office REIT (NYSE:CIO) Updates FY 2023 Earnings Guidance

May 7, 2023 | msn.com

City Office REIT (CIO) Declares $0.10 Dividend

May 6, 2023 | marketwatch.com

8-K: City Office REIT, Inc.

May 6, 2023 | americanbankingnews.com

City Office REIT (NYSE:CIO) Raised to "Hold" at StockNews.com

May 5, 2023 | markets.businessinsider.com

Colliers Securities Remains a Hold on City Office REIT (CIO)

May 5, 2023 | msn.com

City Office Posts Q1 Revenue Beat, 2023 Outlook Reaffirmed

May 5, 2023 | marketwatch.com

City Office REIT Lowers Dividend by Half

May 5, 2023 | msn.com

City Office REIT beats Q1 top and bottom line estimates; reaffirms FY23 outlook

May 5, 2023 | finance.yahoo.com

City Office REIT Reports First Quarter 2023 Results

May 5, 2023 | finance.yahoo.com

City Office REIT Announces Dividends for Second Quarter 2023

May 4, 2023 | markets.businessinsider.com

City Office REIT earnings: here's what to expect

May 4, 2023 | finance.yahoo.com

Uniti Group (UNIT) Q1 FFO and Revenues Top Estimates

May 4, 2023 | americanbankingnews.com

City Office REIT (CIO) to Release Quarterly Earnings on Friday

May 3, 2023 | finance.yahoo.com

Public Storage (PSA) Q1 FFO and Revenues Top Estimates

April 27, 2023 | americanbankingnews.com

City Office REIT (NYSE:CIO) Upgraded at StockNews.com

April 17, 2023 | americanbankingnews.com

Financial Contrast: City Office REIT (NYSE:CIO) versus Global Medical REIT (NYSE:GMRE)

April 14, 2023 | americanbankingnews.com

City Office REIT (NYSE:CIO) Stock Rating Upgraded by StockNews.com

See More Headlines

CIO Price History

30 days | 90 days | 365 days | Advanced Chart

CIO Company Calendar

Last Earnings: 5/05/2022
Ex-Dividend for 4/25 Dividend: 4/10/2023
Dividend Payable: 4/25/2023
Today: 6/04/2023
Ex-Dividend for 7/21 Dividend: 7/06/2023
Dividend Payable: 7/21/2023
Next Earnings (Estimated): 8/03/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Real estate investment trusts
Sub-Industry: N/A
Sector: Finance
Current Symbol: NYSE:CIO
CUSIP: N/A
CIK: 1593222
Web: www.cityofficereit.com
Phone: (604) 806-3366
Fax: N/A
Employees: 19
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $10.33
High Stock Price Forecast: $12.00
Low Stock Price Forecast: $7.00
Forecasted Upside/Downside: +104.6%
Consensus Rating: Hold
Rating Score (0-4): 2.33
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.37)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 3.85
P/E Growth: 0.64
Net Income: $16.99 million
Net Margins: -3.76%
Pretax Margin: -3.38%
Return on Equity: -0.96%
Return on Assets: -0.43%

Debt

Debt-to-Equity Ratio: 1.04
Current Ratio: 3.35
Quick Ratio: 3.35

Sales & Book Value

Annual Sales: $180.49 million
Price / Sales: 1.12
Cash Flow: $2.04 per share
Price / Cash Flow: 2.48
Book Value: $17.01 per share
Price / Book: 0.30

Miscellaneous

Outstanding Shares: 39,940,000
Free Float: 38,580,000
Market Cap: $201.70 million
Optionable: Optionable
Beta: 1.62

Key Executives

James Thomas Farrar
Chief Executive Officer & Director

Greg Tylee
President & Chief Operating Officer

Anthony Maretic
Chief Financial Officer, Secretary & Treasurer

Cori Hansen
Director-Governance & Corporate Affairs

Stephanie Chung
Senior Vice President-Finance

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

CIO Stock - Frequently Asked Questions

Should I buy or sell City Office REIT stock right now?: 3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for City Office REIT in the last year. There are currently 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" CIO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CIO, but not buy additional shares or sell existing shares.
View CIO analyst ratings or view top-rated stocks.
What is City Office REIT's stock price forecast for 2023?: 3 brokers have issued 1 year price targets for City Office REIT's shares. Their CIO share price forecasts range from $7.00 to $12.00. On average, they anticipate the company's stock price to reach $10.33 in the next twelve months. This suggests a possible upside of 104.6% from the stock's current price.
View analysts price targets for CIO or view top-rated stocks among Wall Street analysts.
How have CIO shares performed in 2023?: City Office REIT's stock was trading at $8.38 at the beginning of the year. Since then, CIO stock has decreased by 39.7% and is now trading at $5.05.
View the best growth stocks for 2023 here.
Are investors shorting City Office REIT?: City Office REIT saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 776,700 shares, an increase of 16.0% from the April 30th total of 669,800 shares. Based on an average daily trading volume, of 492,700 shares, the short-interest ratio is currently 1.6 days. Currently, 2.0% of the company's shares are short sold.
View City Office REIT's Short Interest.
When is City Office REIT's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our CIO earnings forecast.
How were City Office REIT's earnings last quarter?: City Office REIT, Inc. (NYSE:CIO) announced its quarterly earnings data on Thursday, May, 5th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.15. City Office REIT had a negative net margin of 3.76% and a negative trailing twelve-month return on equity of 0.96%. During the same quarter last year, the firm posted $0.33 earnings per share.
How often does City Office REIT pay dividends? What is the dividend yield for City Office REIT?: City Office REIT announced a quarterly dividend on Friday, May 5th. Stockholders of record on Friday, July 7th will be given a dividend of $0.10 per share on Friday, July 21st. This represents a $0.40 dividend on an annualized basis and a yield of 7.92%. The ex-dividend date of this dividend is Thursday, July 6th.
Read our dividend analysis for CIO.
What ETFs hold City Office REIT's stock?: ETFs with the largest weight of City Office REIT (NYSE:CIO) stock in their portfolio include Hoya Capital High Dividend Yield ETF (RIET), Arrow Dow Jones Global Yield ETF (GYLD), First Trust Dow Jones Select Microcap Index Fund (FDM), Hartford Multifactor Small Cap ETF (ROSC), SPDR Dow Jones REIT ETF (RWR), First Trust S&P REIT Index Fund (FRI), Vanguard Real Estate ETF (VNQ) and iShares Core U.S. REIT ETF (USRT).

Is City Office REIT a good dividend stock?: City Office REIT (NYSE:CIO) pays an annual dividend of $0.80 per share and currently has a dividend yield of 15.84%. CIO has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer.
Read our dividend analysis for CIO.
What guidance has City Office REIT issued on next quarter's earnings?: City Office REIT issued an update on its FY 2023 earnings guidance on Sunday, May, 7th. The company provided earnings per share (EPS) guidance of $1.38-$1.43 for the period, compared to the consensus earnings per share estimate of $1.41. The company issued revenue guidance of -.
What other stocks do shareholders of City Office REIT own?: Based on aggregate information from My MarketBeat watchlists, some companies that other City Office REIT investors own include Energy Transfer (ET), New Residential Investment (NRZ), AGNC Investment (AGNC), CBL & Associates Properties (CBL), Western Asset Mortgage Capital (WMC), AT&T (T), NGL Energy Partners (NGL), Medical Properties Trust (MPW), Annaly Capital Management (NLY) and Ladder Capital (LADR).
What is City Office REIT's stock symbol?: City Office REIT trades on the New York Stock Exchange (NYSE) under the ticker symbol "CIO."
Who are City Office REIT's major shareholders?: City Office REIT's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (8.07%), LSV Asset Management (4.67%), Nomura Holdings Inc. (4.29%), Renaissance Technologies LLC (3.53%), State Street Corp (3.14%) and Geode Capital Management LLC (2.31%). Insiders that own company stock include Anthony Maretic, James Thomas Farrar and William R Flatt.
View institutional ownership trends.
How do I buy shares of City Office REIT?: Shares of CIO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is City Office REIT's stock price today?: One share of CIO stock can currently be purchased for approximately $5.05.
How much money does City Office REIT make?: City Office REIT (NYSE:CIO) has a market capitalization of $201.70 million and generates $180.49 million in revenue each year. The real estate investment trust earns $16.99 million in net income (profit) each year or ($0.37) on an earnings per share basis.
How can I contact City Office REIT?: City Office REIT's mailing address is 666 BURRARD STREET SUITE 3210, VANCOUVER A1, V6C 2X8. The official website for the company is www.cityofficereit.com. The real estate investment trust can be reached via phone at (604) 806-3366 or via email at investorrelations@cityofficereit.com.

This page (NYSE:CIO) was last updated on 6/4/2023 by MarketBeat.com Staff

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