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 September 30, 2018, CIO owned office complexes comprising 5.3 million square feet of net rentable area (NRA).
Industry, Sector and Symbol
Stock Exchange NYSE
Industry Real estate investment trusts
Sub-IndustryN/A
SectorFinance
Current SymbolNYSE:CIO
Previous Symbol
CUSIPN/A
Phone604-806-3366
Debt
Debt-to-Equity Ratio1.80
Current Ratio2.54
Quick Ratio2.54
Price-To-Earnings
Trailing P/E Ratio11.40
Forward P/E Ratio10.34
P/E Growth1.15
Sales & Book Value
Annual Sales$106.49 million
Price / Sales4.11
Cash Flow$1.3455 per share
Price / Cash8.22
Book Value$7.68 per share
Price / Book1.44
Profitability
EPS (Most Recent Fiscal Year)$0.97
Net Income$5.75 million
Net Margins34.71%
Return on Equity15.81%
Return on Assets4.78%
Miscellaneous
Employees17
Outstanding Shares39,540,000
Market Cap$437.36 million
OptionableOptionable
City Office REIT (NYSE:CIO) Frequently Asked Questions
What is City Office REIT's stock symbol?
City Office REIT trades on the New York Stock Exchange (NYSE) under the ticker symbol "CIO."
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 Monday, September 17th. Investors of record on Thursday, October 11th will be paid a dividend of $0.235 per share on Thursday, October 25th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 8.50%. The ex-dividend date is Wednesday, October 10th. View City Office REIT's Dividend History.
How will City Office REIT's stock buyback program work?
City Office REIT announced that its board has authorized a stock buyback program on Saturday, March 3rd 2018, which authorizes the company to buyback $40,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.
How were City Office REIT's earnings last quarter?
City Office REIT Inc (NYSE:CIO) posted its earnings results on Thursday, November, 1st. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, hitting the Thomson Reuters' consensus estimate of ($0.08). The real estate investment trust had revenue of $33.55 million for the quarter, compared to the consensus estimate of $33.16 million. City Office REIT had a return on equity of 15.81% and a net margin of 34.71%. View City Office REIT's Earnings History.
When is City Office REIT's next earnings date?
What guidance has City Office REIT issued on next quarter's earnings?
City Office REIT issued an update on its fourth quarter 2018 earnings guidance on Thursday, November, 1st. The company provided earnings per share guidance of $0.27-0.28 for the period.
What price target have analysts set for CIO?
5 Wall Street analysts have issued twelve-month target prices for City Office REIT's stock. Their forecasts range from $13.00 to $15.00. On average, they expect City Office REIT's share price to reach $14.00 in the next year. This suggests a possible upside of 26.6% from the stock's current price. View Analyst Price Targets for City Office REIT.
What is the consensus analysts' recommendation for 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 1 hold rating and 4 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for City Office REIT.
What are Wall Street analysts saying about City Office REIT stock?
Here are some recent quotes from research analysts about City Office REIT stock:
- 1. According to Zacks Investment Research, "City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning, and operating office properties in the United States. The Company invests in properties located in metropolitan areas in the Southern and Western United States. City Office REIT, Inc. is based in Vancouver, Canada. " (11/12/2018)
- 2. Boenning Scattergood analysts commented, "We are initiating coverage of City Office REIT Inc. (CIO) with an Outperform rating and a $14.50 price target. CIO invests primarily in Class A office properties in mid-sized metropolitan areas that it believes have strong economic fundamentals, primarily in the southern and western United States. CIO has been disciplined in acquiring properties and has acquired 3 million square feet of office space (over $1 billion of cost) since its IPO in 2014 and divested three properties at internal rates of return that ranged from 17% to 51% and generated over $70 million of gains. Operating revenues increased to $113 million from $33 million, and the average annualized base rent per square foot increased by 32%." (7/10/2018)
Has City Office REIT been receiving favorable news coverage?
News stories about CIO stock have been trending somewhat positive recently, InfoTrie reports. InfoTrie identifies negative and positive media coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. City Office REIT earned a media sentiment score of 2.0 on InfoTrie's scale. They also assigned media headlines about the real estate investment trust a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an impact on the stock's share price in the near term.
Are investors shorting City Office REIT?
City Office REIT saw a increase in short interest in the month of October. As of October 15th, there was short interest totalling 802,948 shares, an increase of 58.4% from the September 28th total of 506,850 shares. Based on an average trading volume of 262,308 shares, the short-interest ratio is currently 3.1 days. Currently, 2.3% of the shares of the company are sold short. View City Office REIT's Current Options Chain.
Who are some of City Office REIT's key competitors?
Some companies that are related to City Office REIT include Select Income REIT (SIR), Invesco Mortgage Capital (IVR), Caretrust REIT (CTRE), Alexander's (ALX), National Storage Affiliates Trust (NSA), Global Net Lease (GNL), Alexander & Baldwin (ALEX), CYRELA BRAZIL R/S (CYRBY), American Finance Trust (AFIN), Safestore (SFSHF), Industrial Logistics Properties Trust (ILPT), Redwood Trust (RWT), Kite Realty Group Trust (KRG), TPG RE Finance Trust (TRTX) and Hannon Armstrong Sustnbl Infrstr Cap (HASI).
Who are City Office REIT's key executives?
City Office REIT's management team includes the folowing people:
- Mr. James Thomas Farrar CFA, CEO & Director (Age 42)
- Mr. Gregory Tylee, COO & Pres (Age 46)
- Mr. Anthony Maretic C.A., CFO, Treasurer & Sec. (Age 46)
Who are City Office REIT's major shareholders?
City Office REIT's stock is owned by a number of of retail and institutional investors. Top institutional investors include Alliancebernstein L.P. (6.80%), BlackRock Inc. (5.70%), Renaissance Technologies LLC (4.95%), LSV Asset Management (4.23%), Real Estate Management Services LLC (4.09%) and D.A. Davidson & CO. (1.63%). Company insiders that own City Office REIT stock include James Thomas Farrar, Jeffrey David Kohn, John R Mclernon, John Sweet, Mark Wilhelm Murski 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 Real Estate Management Services LLC, Dalton Greiner Hartman Maher & Co., Orinda Asset Management LLC, Thrivent Financial for Lutherans, Advisors Asset Management Inc., Opus Capital Group LLC and American Century Companies Inc.. View Insider Buying and Selling 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 Alliancebernstein L.P., LSV Asset Management, Renaissance Technologies LLC, BlackRock Inc., JPMorgan Chase & Co., JPMorgan Chase & Co., TIAA CREF Investment Management LLC and Connor Clark & Lunn Investment Management Ltd.. Company insiders that have bought City Office REIT stock in the last two years include James Thomas Farrar, Jeffrey David Kohn, John R Mclernon, John Sweet, Mark Wilhelm Murski and Stephen B Shraiberg. View Insider Buying and Selling 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, Scottrade, Fidelity and Charles Schwab.
What is City Office REIT's stock price today?
One share of CIO stock can currently be purchased for approximately $11.06.
How big of a company is City Office REIT?
City Office REIT has a market capitalization of $437.36 million and generates $106.49 million in revenue each year. The real estate investment trust earns $5.75 million in net income (profit) each year or $0.97 on an earnings per share basis. City Office REIT employs 17 workers across the globe.
What is City Office REIT's official website?
How can I contact City Office REIT?
City Office REIT's mailing address is 1075 WEST GEORGIA STREET SUITE 2010, VANCOUVER A1, V6E 3C9. The real estate investment trust can be reached via phone at 604-806-3366 or via email at [email protected]
MarketBeat Community Rating for City Office REIT (NYSE CIO)
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.
