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

City Office REIT (NYSE:CIO) issued an update on its FY 2024 earnings guidance on Thursday morning. 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 Stock Performance

City Office REIT stock traded down $0.04 during midday trading on Friday, reaching $5.08. The stock had a trading volume of 143,347 shares, compared to its average volume of 209,273. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $203.98 million, a PE ratio of -14.10, 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. The firm’s 50-day moving average price is $5.79 and its 200 day moving average price is $5.34.

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

City Office REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date of this dividend was Thursday, October 10th. City Office REIT’s payout ratio is currently -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.