City Office REIT (NYSE:CIO) Issues FY 2024 Earnings Guidance

City Office REIT (NYSE:CIO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.150-1.170 for the period, compared to the consensus earnings per share estimate of 1.170. The company issued revenue guidance of -.

City Office REIT Price Performance

Shares of NYSE:CIO opened at $5.08 on Friday. The company has a 50 day moving average of $5.79 and a 200 day moving average of $5.35. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 1.00. The stock has a market cap of $203.98 million, a P/E ratio of -14.11, a P/E/G ratio of 0.86 and a beta of 1.95. City Office REIT has a 12 month low of $3.87 and a 12 month high of $6.70.

City Office REIT (NYSE:CIO) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.36). City Office REIT had a negative net margin of 4.02% and a negative return on equity of 1.07%. The firm had revenue of $42.37 million for the quarter, compared to analysts’ expectations of $42.02 million. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, sell-side analysts forecast that City Office REIT will post 1.04 EPS for the current fiscal year.

City Office REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.87%. City Office REIT’s dividend payout ratio (DPR) is presently -111.11%.

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.