City Office REIT (NYSE:CIO) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

City Office REIT, Inc. (NYSE:CIO)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.56 and traded as low as $5.01. City Office REIT shares last traded at $5.05, with a volume of 130,625 shares changing hands.

City Office REIT Price Performance

The firm has a market cap of $202.80 million, a price-to-earnings ratio of -12.03, a P/E/G ratio of 0.84 and a beta of 1.98. The business’s 50-day moving average price is $5.43 and its two-hundred day moving average price is $5.56. 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 announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.36). The company had revenue of $42.37 million for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.34 earnings per share. On average, research analysts forecast that City Office REIT, Inc. will post 1.05 EPS for the current fiscal year.

City Office REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Investors of record on Friday, January 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.92%. The ex-dividend date was Friday, January 10th. City Office REIT’s dividend payout ratio is currently -95.24%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of City Office REIT by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,026,928 shares of the real estate investment trust’s stock valued at $5,998,000 after acquiring an additional 11,178 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of City Office REIT by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 364,093 shares of the real estate investment trust’s stock worth $2,126,000 after purchasing an additional 16,828 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of City Office REIT by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 341,386 shares of the real estate investment trust’s stock worth $1,994,000 after purchasing an additional 12,808 shares during the period. Penserra Capital Management LLC lifted its position in shares of City Office REIT by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 205,073 shares of the real estate investment trust’s stock worth $1,197,000 after buying an additional 38,285 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of City Office REIT by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 166,000 shares of the real estate investment trust’s stock valued at $969,000 after buying an additional 9,300 shares during the last quarter. 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.