City Office REIT (NYSE:CIO) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

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

City Office REIT Price Performance

The business has a fifty day moving average price of $5.43 and a 200 day moving average price of $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. The company has a market capitalization of $202.80 million, a price-to-earnings ratio of -12.03, a price-to-earnings-growth ratio of 0.84 and a beta of 1.98.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $42.02 million. During the same quarter in the prior year, the company earned $0.34 EPS. On average, research analysts expect that City Office REIT, Inc. will post 1.05 earnings per share for the current fiscal year.

City Office REIT Dividend Announcement

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

Hedge Funds Weigh In On City Office REIT

Several hedge funds have recently modified their holdings of CIO. Sei Investments Co. acquired a new position in City Office REIT in the second quarter worth approximately $72,000. SG Americas Securities LLC acquired a new position in shares of City Office REIT in the 3rd quarter worth $95,000. Mackenzie Financial Corp acquired a new stake in shares of City Office REIT during the second quarter worth $83,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of City Office REIT by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 19,497 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 2,323 shares during the last quarter. Finally, EMC Capital Management lifted its holdings in shares of City Office REIT by 688.0% during the fourth quarter. EMC Capital Management now owns 21,206 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 18,515 shares during the last quarter. 67.47% of the stock is currently owned by institutional investors and hedge funds.

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.