DA Davidson Research Analysts Decrease Earnings Estimates for City Office REIT Inc (NYSE:CIO)

City Office REIT Inc (NYSE:CIO) – Investment analysts at DA Davidson dropped their Q4 2017 earnings per share estimates for shares of City Office REIT in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. DA Davidson analyst B. Oxford now forecasts that the real estate investment trust will post earnings of $0.25 per share for the quarter, down from their prior forecast of $0.26. DA Davidson also issued estimates for City Office REIT’s Q1 2018 earnings at $0.24 EPS, Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.29 EPS, FY2018 earnings at $1.08 EPS, Q1 2019 earnings at $0.29 EPS and FY2019 earnings at $1.22 EPS.

Other research analysts have also issued reports about the company. B. Riley reissued a “buy” rating and issued a $14.50 price objective on shares of City Office REIT in a research report on Tuesday, November 7th. FBR & Co reissued a “buy” rating on shares of City Office REIT in a research report on Friday, October 6th. Zacks Investment Research raised City Office REIT from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Tuesday, January 2nd. ValuEngine raised City Office REIT from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Deutsche Bank lowered City Office REIT from a “buy” rating to a “hold” rating and decreased their target price for the company from $16.00 to $13.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.25.

City Office REIT (CIO) opened at $11.99 on Thursday. City Office REIT has a 12-month low of $11.43 and a 12-month high of $13.93. The company has a debt-to-equity ratio of 2.80, a current ratio of 3.94 and a quick ratio of 3.94. The firm has a market capitalization of $424.56, a PE ratio of -70.53, a PEG ratio of 1.39 and a beta of 0.22.

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in City Office REIT by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,099,528 shares of the real estate investment trust’s stock valued at $15,141,000 after buying an additional 47,492 shares in the last quarter. Vanguard Group Inc. increased its position in City Office REIT by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,093,747 shares of the real estate investment trust’s stock valued at $13,891,000 after buying an additional 56,367 shares in the last quarter. LSV Asset Management increased its position in City Office REIT by 25.8% in the 2nd quarter. LSV Asset Management now owns 843,506 shares of the real estate investment trust’s stock valued at $10,712,000 after buying an additional 172,841 shares in the last quarter. Real Estate Management Services LLC increased its position in City Office REIT by 38.1% in the 3rd quarter. Real Estate Management Services LLC now owns 670,343 shares of the real estate investment trust’s stock valued at $9,231,000 after buying an additional 185,016 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in City Office REIT by 7.0% in the 3rd quarter. D.A. Davidson & CO. now owns 598,669 shares of the real estate investment trust’s stock valued at $8,243,000 after buying an additional 38,950 shares in the last quarter. 48.27% of the stock is owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 11th will be given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date is Wednesday, January 10th. City Office REIT’s payout ratio is -552.94%.

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About City Office REIT

City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.

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