City Office REIT (NYSE:CIO) Shares Cross Below 200 Day Moving Average - Here's What Happened

Shares of City Office REIT, Inc. (NYSE:CIO - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

City Office REIT Stock Performance

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 stock has a market capitalization of $207.17 million, a price-to-earnings ratio of -12.29, a price-to-earnings-growth ratio of 0.83 and a beta of 1.98. The stock's 50-day simple moving average is $5.40 and its 200 day simple moving average is $5.55.

City Office REIT (NYSE:CIO - Get Free Report) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) 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 business had revenue of $42.37 million during the quarter, compared to analyst estimates of $42.02 million. During the same period in the previous year, the firm earned $0.34 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Investors 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 dividend payout ratio is -95.24%.

Hedge Funds Weigh In On City Office REIT

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its position in shares of City Office REIT by 237.0% during the third quarter. Barclays PLC now owns 61,942 shares of the real estate investment trust's stock worth $362,000 after acquiring an additional 43,562 shares during the last quarter. Geode Capital Management LLC raised its holdings in City Office REIT by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,026,928 shares of the real estate investment trust's stock worth $5,998,000 after purchasing an additional 11,178 shares during the last quarter. Jane Street Group LLC lifted its position in City Office REIT by 40.0% during the 3rd quarter. Jane Street Group LLC now owns 54,987 shares of the real estate investment trust's stock valued at $321,000 after purchasing an additional 15,704 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in City Office REIT by 34.7% during the 3rd 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 period. Finally, Sei Investments Co. bought a new position in shares of City Office REIT in the 2nd quarter valued at about $72,000. 67.47% of the stock is owned by institutional investors.

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.