City Office REIT (NYSE:CIO) Stock Crosses Below 200-Day Moving Average – Should You Sell?

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

City Office REIT Price Performance

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 firm has a market capitalization of $207.17 million, a PE ratio of -12.29, a P/E/G ratio of 0.83 and a beta of 1.98. The company has a 50-day moving average price of $5.40 and a 200-day moving average price of $5.55.

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 net margin of 5.56% and a negative return on equity of 1.48%. The firm had revenue of $42.37 million during the quarter, compared to analysts’ expectations of $42.02 million. During the same quarter last year, the company posted $0.34 earnings per share. Sell-side analysts forecast that City Office REIT, Inc. will post 1.05 EPS for the current year.

City Office REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Friday, January 10th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 7.75%. City Office REIT’s dividend payout ratio (DPR) is currently -95.24%.

Institutional Trading of City Office REIT

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings 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 purchasing an additional 21,600 shares during the last quarter. Geode Capital Management LLC lifted its position in City Office REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,026,928 shares of the real estate investment trust’s stock worth $5,998,000 after buying an additional 11,178 shares during the period. JPMorgan Chase & Co. boosted its stake in City Office REIT by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,093 shares of the real estate investment trust’s stock worth $2,126,000 after buying an additional 16,828 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in City Office REIT by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 341,386 shares of the real estate investment trust’s stock valued at $1,994,000 after buying an additional 12,808 shares during the period. Finally, Penserra Capital Management LLC grew its holdings in City Office REIT by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 205,073 shares of the real estate investment trust’s stock valued at $1,197,000 after buying an additional 38,285 shares during the period. 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.