City Office REIT (NYSE:CIO) Shares Pass Below 200-Day Moving Average – Here’s What Happened

City Office REIT, Inc. (NYSE:CIO)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.51 and traded as low as $5.42. City Office REIT shares last traded at $5.46, with a volume of 124,101 shares changing hands.

City Office REIT Stock Performance

The stock’s 50-day moving average price is $5.44 and its 200-day moving average price is $5.51. The company has a market cap of $219.24 million, a P/E ratio of -13.00, a PEG ratio of 0.91 and a beta of 1.99. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.42 and a quick ratio of 2.42.

City Office REIT (NYSE:CIO) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.36). The company had revenue of $42.37 million during the quarter, compared to analyst estimates of $42.02 million. City Office REIT had a negative net margin of 5.56% and a negative return on equity of 1.48%. During the same quarter in the prior year, the business earned $0.34 EPS. Equities analysts anticipate that City Office REIT, Inc. will post 1.05 EPS for the current year.

City Office REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend is Thursday, January 9th. City Office REIT’s payout ratio is -95.24%.

Institutional Trading of City Office REIT

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in City Office REIT by 12.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 166,927 shares of the real estate investment trust’s stock worth $831,000 after purchasing an additional 18,201 shares during the period. Rhumbline Advisers boosted its holdings in shares of City Office REIT by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 68,975 shares of the real estate investment trust’s stock valued at $343,000 after acquiring an additional 3,299 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of City Office REIT by 14.8% during 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 during the last quarter. Acadian Asset Management LLC increased its stake in City Office REIT by 42.9% in the 2nd quarter. Acadian Asset Management LLC now owns 245,688 shares of the real estate investment trust’s stock worth $1,222,000 after buying an additional 73,736 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of City Office REIT during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 67.47% of the company’s stock.

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.