Media coverage about City Office REIT (NYSE:CIO) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. City Office REIT earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave press coverage about the real estate investment trust an impact score of 46.0774133973439 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the media headlines that may have impacted Accern’s rankings:
- City Office REIT Inc (CIO) Announces Quarterly Dividend of $0.24 (americanbankingnews.com)
- City Office REIT Announces Dividends for First Quarter 2018 (bizjournals.com)
- John Sweet Purchases 2,000 Shares of City Office REIT Inc (CIO) Stock (americanbankingnews.com)
- Form DEF 14A City Office REIT, Inc. For: May 03 (streetinsider.com)
- City Office REIT Announces New $250 Million Unsecured Credit Facility (finance.yahoo.com)
Several equities analysts have commented on CIO shares. ValuEngine raised shares of City Office REIT from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of City Office REIT from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, January 2nd. Deutsche Bank lowered shares of 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 report on Wednesday, January 10th. Finally, B. Riley set a $14.00 target price on shares of City Office REIT and gave the company a “buy” rating in a report on Friday, March 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.13.
Shares of CIO stock opened at $11.20 on Friday. The stock has a market cap of $412.11, a P/E ratio of -224.00, a P/E/G ratio of 1.17 and a beta of 0.27. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 1.98. City Office REIT has a 1-year low of $10.03 and a 1-year high of $13.93.
City Office REIT (NYSE:CIO) last announced its quarterly earnings results on Thursday, March 1st. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.36). The company had revenue of $31.18 million for the quarter, compared to the consensus estimate of $29.26 million. City Office REIT had a net margin of 5.41% and a return on equity of 2.74%. The company’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. research analysts anticipate that City Office REIT will post 1.08 earnings per share for the current fiscal year.
City Office REIT announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 1st that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Wednesday, April 11th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 8.39%. The ex-dividend date of this dividend is Tuesday, April 10th. City Office REIT’s dividend payout ratio (DPR) is presently -1,880.00%.
In related news, Director Stephen B. Shraiberg purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were bought at an average cost of $11.05 per share, with a total value of $110,500.00. Following the acquisition, the director now owns 71,681 shares of the company’s stock, valued at approximately $792,075.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.
City Office REIT Company Profile
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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