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).
Industry, Sector and Symbol
Industry Real estate investment trusts
Sub-IndustryN/A
SectorFinance
Phone604-806-3366
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$129.48 million
Profitability
Miscellaneous
Employees18
Next Earnings Date11/7/2019 (Estimated)
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 announced a quarterly dividend on Friday, June 14th. Investors of record on Thursday, July 11th will be paid a dividend of $0.235 per share on Thursday, July 25th. This represents a $0.94 annualized dividend and a dividend yield of 6.68%. The ex-dividend date is Wednesday, July 10th. View City Office REIT's Dividend History.
How will City Office REIT's stock buyback program work?
City Office REIT declared that its board has initiated a stock repurchase program on Saturday, March 3rd 2018, which allows the company to repurchase $40,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign 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) released its quarterly earnings results on Thursday, August, 1st. The real estate investment trust reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.28 by $0.30. The real estate investment trust earned $41.17 million during the quarter, compared to the consensus estimate of $38.17 million. City Office REIT had a negative return on equity of 2.84% and a negative net margin of 5.50%. 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 updated its FY 2019 earnings guidance on Thursday, August, 1st. The company provided EPS guidance of $1.23-1.26 for the period.
What price target have analysts set for CIO?
4 equities research analysts have issued 12 month price objectives for City Office REIT's stock. Their predictions range from $12.00 to $15.00. On average, they expect City Office REIT's stock price to reach $13.75 in the next year. This suggests that the stock has a possible downside of 2.3%. View Analyst Price Targets for City Office REIT.
What is the consensus analysts' recommendation for City Office REIT?
4 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 3 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. " (8/12/2019)
- 2. Boenning Scattergood analysts commented, "We remain positive about the prospect of CIO shares to outperform those of peers, and we believe the dividend is stable as it is very nearly covered by AFFO and we think the BOD is committed to the current dividend. Importantly, we observe that CIO has amassed a portfolio of over 5.7 million square feet of Class A office space in markets that are of interest to larger players. The seven cities where CIO owns properties have had approximately 7 million square feet of positive absorption of office space and new construction is limited. These fundamentals give us confidence that CIO’s investment strategy will result in value creation as evidenced by NAV growth. We maintain our Outperform rating and our $14.50 price target, which is based on a discount to estimated forward NAV of $15.25." (5/6/2019)
Has City Office REIT been receiving favorable news coverage?
Media headlines about CIO stock have trended negative recently, according to InfoTrie Sentiment Analysis. The research firm rates the sentiment of press coverage by monitoring more than six thousand news and blog sources. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. City Office REIT earned a coverage optimism score of -2.9 on InfoTrie's scale. They also assigned news headlines about the real estate investment trust a news buzz of 10.0 out of 10, meaning that recent press coverage is extremely likely to have an effect on the stock's share price in the near term. View News Stories for City Office REIT.
Who are some of City Office REIT's key competitors?
Some companies that are related to City Office REIT include Caretrust REIT (CTRE), The GEO Group (GEO), Invesco Mortgage Capital (IVR), Senior Housing Properties Trust (SNH), Corecivic (CXW), Retail Opportunity Investments (ROIC), CYRELA BRAZIL R/S (CYRBY), Ladder Capital (LADR), DiamondRock Hospitality (DRH), Mack Cali Realty (CLI), LTC Properties (LTC), Four Corners Property Trust (FCPT), National Storage Affiliates Trust (NSA), Redwood Trust (RWT) and Hannon Armstrong Sustnbl Infrstr Cap (HASI).
What other stocks do shareholders of City Office REIT own?
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 43)
- Mr. Gregory Tylee, COO & Pres (Age 47)
- Mr. Anthony Maretic C.A., CFO, Treasurer & Sec. (Age 47)
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 Vanguard Group Inc. (10.28%), BlackRock Inc. (7.53%), LSV Asset Management (5.28%), Renaissance Technologies LLC (4.64%), Invesco Ltd. (2.56%) and Nuveen Asset Management LLC (2.31%). 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 major 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, Invesco Ltd., Wells Fargo & Company MN, Monarch Partners Asset Management LLC, Dalton Greiner Hartman Maher & Co., Russell Investments Group Ltd., Connor Clark & Lunn Investment Management Ltd. and Dubuque Bank & Trust Co.. View Insider Buying and Selling for City Office REIT.
Which major investors are buying City Office REIT stock?
CIO stock was acquired by a variety of institutional investors in the last quarter, including Keeley Teton Advisors LLC, BlackRock Inc., Nuveen Asset Management LLC, Atlantic Union Bankshares Corp, AXA, Renaissance Technologies LLC, Vanguard Group Inc. and Morgan Stanley. 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 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 $14.08.
How big of a company is City Office REIT?
City Office REIT has a market capitalization of $558.23 million and generates $129.48 million in revenue each year. The real estate investment trust earns $38.17 million in net income (profit) each year or $1.08 on an earnings per share basis. City Office REIT employs 18 workers across the globe.View Additional Information About City Office REIT.
What is City Office REIT's official website?
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]
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.
