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

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

City Office REIT Stock Performance

NYSE:CIO opened at $5.08 on Friday. City Office REIT has a 1-year low of $3.87 and a 1-year high of $6.70. The company has a market capitalization of $203.98 million, a price-to-earnings ratio of -14.11, a PEG ratio of 0.86 and a beta of 1.95. The business has a 50 day moving average of $5.79 and a 200 day moving average of $5.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.80 and a quick ratio of 2.80.

City Office REIT (NYSE:CIO) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.36). The company had revenue of $42.37 million for 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 business posted $0.34 earnings per share. On average, sell-side analysts predict that City Office REIT will post 1.04 earnings per share for the current fiscal year.

City Office REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.10 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.40 annualized dividend and a yield of 7.87%. City Office REIT’s payout ratio is currently -111.11%.

About City Office REIT

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.