City Office REIT (NYSE:CIO) Share Price Passes Below 200 Day Moving Average – Here’s Why

City Office REIT, Inc. (NYSE:CIO) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

City Office REIT Price Performance

The business’s 50-day moving average price is $5.40 and its 200 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 earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.36). City Office REIT had a negative net margin of 5.56% and a negative return on equity of 1.48%. The company had revenue of $42.37 million for the quarter, compared to the consensus estimate of $42.02 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Equities research analysts predict that City Office REIT, Inc. will post 1.05 EPS for the current year.

City Office REIT Dividend Announcement

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

Institutional Investors Weigh In On City Office REIT

A number of hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its stake in shares of City Office REIT by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 19,497 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 2,323 shares during the period. Rhumbline Advisers increased its stake in shares of City Office REIT by 5.0% in the second quarter. Rhumbline Advisers now owns 68,975 shares of the real estate investment trust’s stock worth $343,000 after buying an additional 3,299 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of City Office REIT by 21.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,451 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 3,391 shares during the period. Victory Capital Management Inc. increased its stake in shares of City Office REIT by 5.9% in the third quarter. Victory Capital Management Inc. now owns 166,000 shares of the real estate investment trust’s stock worth $969,000 after buying an additional 9,300 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of City Office REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,026,928 shares of the real estate investment trust’s stock worth $5,998,000 after buying an additional 11,178 shares during the period. 67.47% of the stock is currently owned by institutional investors.

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.