Press coverage about City Office REIT (NYSE:CIO) has trended somewhat positive on Saturday, Alpha One Sentiment reports. Alpha One, a subsidiary of Accern, identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real time. Alpha One ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. City Office REIT earned a media sentiment score of 0.09 on Alpha One’s scale. Alpha One also assigned press coverage about the real estate investment trust an impact score of 50 out of 100, meaning that recent media coverage is somewhat likely to have an impact on the company’s share price in the next several days.
Several brokerages have weighed in on CIO. Deutsche Bank AG lifted their price target on shares of City Office REIT from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 25th. TheStreet raised shares of City Office REIT from a “d” rating to a “c” rating in a report on Thursday, May 18th. Zacks Investment Research downgraded shares of City Office REIT from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, Raymond James Financial, Inc. started coverage on shares of City Office REIT in a research report on Wednesday, March 1st. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $14.70.
City Office REIT (CIO) traded up 0.39% during midday trading on Friday, hitting $12.77. 146,644 shares of the stock traded hands. The company’s 50 day moving average price is $12.41 and its 200 day moving average price is $12.55. City Office REIT has a 12 month low of $11.43 and a 12 month high of $13.93. The firm has a market cap of $386.38 million, a PE ratio of 266.04 and a beta of 0.22.
City Office REIT (NYSE:CIO) last announced its earnings results on Friday, May 5th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.33. City Office REIT had a net margin of 5.90% and a return on equity of 2.90%. The business had revenue of $25.40 million for the quarter, compared to analysts’ expectations of $24.54 million. During the same quarter last year, the business earned $0.32 EPS. The company’s quarterly revenue was up 55.8% on a year-over-year basis. Equities research analysts predict that City Office REIT will post ($0.52) earnings per share for the current fiscal year.
About City Office REIT
City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.
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