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

City Office REIT, Inc. (NYSE:CIO) 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 trading hands.

City Office REIT Stock Performance

The firm has a market cap of $219.24 million, a PE ratio of -13.00, a P/E/G ratio of 0.91 and a beta of 1.99. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average price of $5.44 and a two-hundred day moving average price of $5.51.

City Office REIT (NYSE:CIO) last released its earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $42.37 million for the quarter, compared to analyst estimates of $42.02 million. During the same quarter last year, the company earned $0.34 earnings per share. Research analysts forecast that City Office REIT, Inc. will post 1.05 EPS for the current fiscal year.

City Office REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Thursday, January 9th. City Office REIT’s dividend payout ratio (DPR) is -95.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Sei Investments Co. acquired a new stake in shares of City Office REIT in the second quarter worth $72,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of City Office REIT by 34.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,546 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 24,109 shares during the last quarter. Acadian Asset Management LLC lifted its position 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 valued at $1,222,000 after purchasing an additional 73,736 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of City Office REIT by 1.7% during the second quarter. Renaissance Technologies LLC now owns 1,268,416 shares of the real estate investment trust’s stock worth $6,317,000 after buying an additional 21,600 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of City Office REIT by 12.2% in the second 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 in the last quarter. 67.47% of the stock is owned by hedge funds and other 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.