NYSE:CIOCity Office REIT Stock Price, Forecast & News

$10.27

+0.12 (+1.18 %)

(As of 06/4/2020 04:00 PM ET)

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Today's Range

$9.88

Now: $10.27▼

$10.30

50-Day Range

$8.12

MA: $9.10▼

$10.47

52-Week Range

$6.50

Now: $10.27▼

$14.50

Volume326,250 shs

Average Volume423,944 shs

Market Capitalization$488.54 million

P/E RatioN/A

Dividend Yield5.91%

Beta1.32

City Office REIT, Inc. (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2018, CIO owned office complexes comprising 5.7 million square feet of net rentable area (NRA).

Beat the Market (BTM) Rank^™

2.3 Analyst's Opinion

Consensus Rating
City Office REIT has received a consensus rating of Buy. The company's average rating score is 2.60, and is based on 3 buy ratings, 2 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $12.40, City Office REIT has a potential upside of 22.2% from its current price of $10.15.
Amount of Analyst Coverage
City Office REIT has only been the subject of 4 research reports in the past 90 days.

2.4 Community Rank

Outperform Votes
City Office REIT has received 265 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
City Office REIT has received 292 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
City Office REIT has received 52.42% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about City Office REIT and other stocks. Vote “Outperform” if you believe CIO will outperform the S&P 500 over the long term. Vote “Underperform” if you believe CIO will underperform the S&P 500 over the long term. You may vote once every thirty days.

3.3 Dividend Strength

Dividend Leadership
City Office REIT is a leading dividend payer. It pays a dividend yield of 5.91%, 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 Coverage
The dividend payout ratio of City Office REIT is 51.28 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, City Office REIT will have a dividend payout ratio of 50.42 % next year. This indicates that City Office REIT will be able to sustain or increase its dividend.

4.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, City Office REIT insiders have bought more of their company's stock than they have sold. Specifically, they have bought $225,600.00 in company stock and sold $0.00 in company stock.
Percentage Held by Insiders
Only 2.60% of the stock of City Office REIT is held by insiders.
Percentage Held by Institutions
89.30% 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.

0.6 Earnings and Valuation

Earnings Growth
Earnings for City Office REIT are expected to grow by 12.26% in the coming year, from $1.06 to $1.19 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of City Office REIT is -112.77, 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 -112.77, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
City Office REIT has a P/B Ratio of 1.27. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.53 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NYSE

Industry Real estate investment trusts

Sub-IndustryN/A

SectorFinance

Current SymbolNYSE:CIO

Previous Symbol

CUSIPN/A

CIK1593222

Webwww.cityofficereit.com

Phone604-806-3366

Debt

Debt-to-Equity Ratio1.70

Current Ratio7.23

Quick Ratio7.23

Price-To-Earnings

Trailing P/E RatioN/A

Forward P/E Ratio9.69

P/E GrowthN/A

Sales & Book Value

Annual Sales$156.30 million

Price / Sales3.13

Cash Flow$1.16 per share

Price / Cash Flow8.89

Book Value$8.01 per share

Price / Book1.28

Profitability

EPS (Most Recent Fiscal Year)$1.17

Net Income$1.80 million

Net Margins2.33%

Return on Equity1.01%

Return on Assets0.31%

Miscellaneous

Employees18

Outstanding Shares47,570,000

Market Cap$488.54 million

Next Earnings Date8/6/2020 (Estimated)

OptionableOptionable

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City Office REIT (NYSE:CIO) Frequently Asked Questions

How has City Office REIT's stock been impacted by COVID-19 (Coronavirus)?

City Office REIT's stock was trading at $9.64 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, CIO shares have increased by 5.3% and is now trading at $10.15. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of City Office REIT?

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for City Office REIT in the last year. There are currently 2 hold ratings and 3 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for City Office REIT.

When is City Office REIT's next earnings date?

City Office REIT is scheduled to release its next quarterly earnings announcement on Thursday, August 6th 2020. View our earnings forecast for City Office REIT.

How were City Office REIT's earnings last quarter?

City Office REIT Inc (NYSE:CIO) issued its quarterly earnings data on Thursday, May, 7th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.25 by $0.27. The real estate investment trust had revenue of $40.12 million for the quarter, compared to the consensus estimate of $39.35 million. City Office REIT had a return on equity of 1.01% and a net margin of 2.33%. View City Office REIT's earnings history.

How often does City Office REIT pay dividends? What is the dividend yield for City Office REIT?

City Office REIT declared a quarterly dividend on Wednesday, March 25th. Investors of record on Thursday, April 9th will be given a dividend of $0.15 per share on Friday, April 24th. This represents a $0.60 annualized dividend and a dividend yield of 5.91%. The ex-dividend date is Wednesday, April 8th. View City Office REIT's dividend history.

What guidance has City Office REIT issued on next quarter's earnings?

City Office REIT updated its FY 2020 Pre-Market earnings guidance on Thursday, May, 7th. The company provided EPS guidance of 1.07-1.12 for the period.

What price target have analysts set for CIO?

5 analysts have issued 1 year price objectives for City Office REIT's shares. Their forecasts range from $9.00 to $15.00. On average, they anticipate City Office REIT's stock price to reach $12.40 in the next twelve months. This suggests a possible upside of 22.2% from the stock's current price. View analysts' price targets for City Office REIT.

Has City Office REIT been receiving favorable news coverage?

News coverage about CIO stock has trended somewhat negative this week, according to InfoTrie Sentiment. InfoTrie identifies negative and positive press coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. City Office REIT earned a media sentiment score of -1.9 on InfoTrie's scale. They also gave headlines about the real estate investment trust a news buzz of 0.0 out of 10, meaning that recent press coverage is extremely unlikely to have an effect on the stock's share price in the next few days. View the latest news aboutCity Office REIT.

Who are some of City Office REIT's key competitors?

Some companies that are related to City Office REIT include RLJ Lodging Trust (RLJ), Caretrust REIT (CTRE), Brandywine Realty Trust (BDN), Safestore (SFSHF), CHIMERA INVT CO/SH NEW (CIM), American Assets Trust (AAT), Uniti Group (UNIT), Columbia Property Trust (CXP), Four Corners Property Trust (FCPT), CYRELA BRAZIL R/S (CYRBY), The GEO Group (GEO), Essential Properties Realty Trust (EPRT), LTC Properties (LTC), Corecivic (CXW) and Mack Cali Realty (CLI). View all competitors.

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 LP Unit (ET), New Residential Investment (NRZ), AGNC Investment (AGNC), CBL & Associates Properties (CBL), AT&T (T), Western Asset Mortgage Capital (WMC), NGL Energy Partners (NGL), Medical Properties Trust (MPW), ANNALY CAP MGMT/SH (NLY) and Ares Capital (ARCC).

Who are City Office REIT's key executives?

City Office REIT's management team includes the following people:

Mr. James Thomas Farrar CFA, CEO & Director (Age 43)
Mr. Gregory Tylee, COO & Pres (Age 47)
Mr. Anthony Maretic C.A., CFO, Treasurer & Sec. (Age 47)

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 number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (10.61%), Alliancebernstein L.P. (8.91%), Nuveen Asset Management LLC (3.01%), Victory Capital Management Inc. (2.47%), Victory Capital Management Inc. (2.84%) and State Street Corp (2.77%). Company insiders that own City Office REIT stock include Gregory Tylee, James Thomas Farrar, John Sweet and Stephen B Shraiberg. View institutional ownership trends for City Office REIT.

Which institutional investors are selling City Office REIT stock?

CIO stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc., AJO LP, Principal Financial Group Inc., Alliancebernstein L.P., Dalton Greiner Hartman Maher & Co., Connor Clark & Lunn Investment Management Ltd., Nuveen Asset Management LLC, and Parametric Portfolio Associates LLC. View insider buying and selling activity for City Office REIT.

Which institutional investors are buying City Office REIT stock?

CIO stock was acquired by a variety of institutional investors in the last quarter, including Fuller & Thaler Asset Management Inc., Victory Capital Management Inc., Victory Capital Management Inc., SG Americas Securities LLC, Geode Capital Management LLC, Martingale Asset Management L P, JPMorgan Chase & Co., and State Street Corp. Company insiders that have bought City Office REIT stock in the last two years include Gregory Tylee, James Thomas Farrar, John Sweet, and Stephen B Shraiberg. View insider buying and selling activity for City Office REIT.

How do I buy shares of City Office REIT?

Shares of CIO can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is City Office REIT's stock price today?

One share of CIO stock can currently be purchased for approximately $10.15.

How big of a company is City Office REIT?

City Office REIT has a market capitalization of $482.84 million and generates $156.30 million in revenue each year. The real estate investment trust earns $1.80 million in net income (profit) each year or $1.17 on an earnings per share basis. City Office REIT employs 18 workers across the globe.

What is City Office REIT's official website?

The official website for City Office REIT is www.cityofficereit.com.

How can I contact City Office REIT?

City Office REIT's mailing address is 666 BURRARD STREET SUITE 3210, VANCOUVER A1, V6C 2X8. The real estate investment trust can be reached via phone at 604-806-3366 or via email at [email protected]

This page was last updated on 6/5/2020 by MarketBeat.com Staff