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

City Office REIT, Inc. (NYSE:CIO)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

City Office REIT Price Performance

The company has a fifty day simple moving average of $5.43 and a 200-day simple moving average of $5.51. The company has a market cap of $214.42 million, a P/E ratio of -12.71, 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 posted its quarterly earnings data 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 return on equity of 1.48% and a negative net margin of 5.56%. The company had revenue of $42.37 million for the quarter, compared to analyst estimates of $42.02 million. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, sell-side analysts predict that City Office REIT, Inc. will post 1.05 earnings per share for the current year.

City Office REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.49%. The ex-dividend date of this dividend is Thursday, January 9th. City Office REIT’s dividend payout ratio (DPR) is currently -95.24%.

Hedge Funds Weigh In On City Office REIT

Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new position in City Office REIT in the second quarter valued at about $35,000. Sei Investments Co. bought a new stake in shares of City Office REIT in the 2nd quarter valued at approximately $72,000. Mackenzie Financial Corp acquired a new position in City Office REIT in the second quarter worth approximately $83,000. SG Americas Securities LLC acquired a new position in City Office REIT in the third quarter worth approximately $95,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in City Office REIT by 21.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,451 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 3,391 shares in the last quarter. Institutional investors and hedge funds 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.