City Office REIT (NYSE:CIO) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of City Office REIT, Inc. (NYSE:CIO) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.55 and traded as low as $5.15. City Office REIT shares last traded at $5.16, with a volume of 197,997 shares changing hands.

City Office REIT Trading Down 1.3 %

The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.02. The stock’s fifty day moving average price is $5.40 and its 200 day moving average price is $5.56.

City Office REIT (NYSE:CIO) last announced its quarterly earnings results 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 firm had revenue of $42.37 million during the quarter, compared to the consensus estimate of $42.02 million. City Office REIT had a negative return on equity of 1.48% and a negative net margin of 5.56%. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, analysts expect that City Office REIT, Inc. will post 1.05 earnings per share for the current year.

City Office REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Friday, January 10th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date is Friday, January 10th. City Office REIT’s payout ratio is -95.24%.

Hedge Funds Weigh In On City Office REIT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of City Office REIT by 237.0% during the 3rd quarter. Barclays PLC now owns 61,942 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 43,562 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of City Office REIT by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 205,073 shares of the real estate investment trust’s stock valued at $1,197,000 after purchasing an additional 38,285 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of City Office REIT by 34.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,546 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 24,109 shares during the last quarter. Renaissance Technologies LLC increased its holdings in City Office REIT by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,268,416 shares of the real estate investment trust’s stock worth $6,317,000 after acquiring an additional 21,600 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in City Office REIT by 14.8% in the 2nd quarter. Victory Capital Management Inc. now owns 156,700 shares of the real estate investment trust’s stock worth $780,000 after acquiring an additional 20,200 shares in the last quarter. Institutional investors own 67.47% of the company’s stock.

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.