Brokerages Expect City Office REIT Inc (NYSE:CIO) Will Post Quarterly Sales of $40.48 Million

Share on StockTwits

Analysts expect that City Office REIT Inc (NYSE:CIO) will post sales of $40.48 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for City Office REIT’s earnings, with estimates ranging from $39.99 million to $41.17 million. City Office REIT reported sales of $34.17 million in the same quarter last year, which would suggest a positive year over year growth rate of 18.5%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that City Office REIT will report full year sales of $158.05 million for the current financial year, with estimates ranging from $157.23 million to $159.06 million. For the next fiscal year, analysts expect that the firm will report sales of $182.02 million, with estimates ranging from $174.64 million to $188.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for City Office REIT.

A number of brokerages have recently issued reports on CIO. JMP Securities boosted their price target on shares of City Office REIT from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 12th. Zacks Investment Research raised shares of City Office REIT from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $14.00.

Shares of City Office REIT stock remained flat at $$13.26 on Friday. 323,200 shares of the stock were exchanged, compared to its average volume of 363,071. City Office REIT has a twelve month low of $9.73 and a twelve month high of $14.50. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.26 and a quick ratio of 2.26. The stock’s fifty day simple moving average is $13.37 and its two-hundred day simple moving average is $12.95. The firm has a market capitalization of $726.88 million, a price-to-earnings ratio of 12.28 and a beta of 0.44.

A number of institutional investors have recently bought and sold shares of CIO. Phocas Financial Corp. acquired a new position in shares of City Office REIT during the 2nd quarter worth $2,547,000. FMR LLC acquired a new position in shares of City Office REIT during the 1st quarter worth approximately $31,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in City Office REIT by 31.9% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 2,000 shares in the last quarter. Wiley BROS. Aintree Capital LLC purchased a new stake in City Office REIT in the 3rd quarter valued at approximately $126,000. Finally, Hancock Whitney Corp purchased a new stake in City Office REIT in the 3rd quarter valued at approximately $152,000. 67.60% of the stock is currently owned by institutional investors.

City Office REIT Company Profile

City Office REIT, Inc (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At December 31, 2018, CIO owned office complexes comprising 5.7 million square feet of net rentable area (?NRA?).

See Also: What sectors are represented in the FTSE 100 index?

Get a free copy of the Zacks research report on City Office REIT (CIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for City Office REIT (NYSE:CIO)

Receive News & Ratings for City Office REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City Office REIT and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Thor Industries, Inc.  Expected to Post Earnings of $1.23 Per Share
Thor Industries, Inc. Expected to Post Earnings of $1.23 Per Share
ETRACS Monthly Pay 2xLeveraged Dow Jones Select Dividend Index ETN  Raises Dividend to $0.69 Per Share
ETRACS Monthly Pay 2xLeveraged Dow Jones Select Dividend Index ETN Raises Dividend to $0.69 Per Share
Apollo Tactical Income Fund Inc  Raises Dividend to $0.11 Per Share
Apollo Tactical Income Fund Inc Raises Dividend to $0.11 Per Share
Culp, Inc.  Plans Quarterly Dividend of $0.11
Culp, Inc. Plans Quarterly Dividend of $0.11
Great Elm Capital Corp  Announces $0.08 Monthly Dividend
Great Elm Capital Corp Announces $0.08 Monthly Dividend
Texas Roadhouse  Now Covered by Analysts at Royal Bank of Canada
Texas Roadhouse Now Covered by Analysts at Royal Bank of Canada


© 2006-2019 Ticker Report