City Office REIT Inc (CIO) reported quarterly earnings results on Thursday, Aug-4-2016. The company reported $0.22 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $0.24. The company posted revenue of $16.09 million in the period, compared to analysts expectations of $16.17 million. The company’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.
Many Wall Street Analysts have commented on City Office REIT Inc. Deutsche Bank Initiated City Office REIT Inc on May 31, 2016 to “Buy”, Price Target of the shares are set at $14.Company shares were Reiterated by Compass Point on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 13 from a previous price target of $12.50 .Shares were Reiterated by Wunderlich on May 9, 2016 to “Buy” and Lowered the Price Target to $ 14 from a previous price target of $15.50 .
City Office REIT Inc closed down -0.25 points or -1.82% at $13.52 with 2,25,810 shares getting traded on Tusday. Post opening the session at $13.81, the shares hit an intraday low of $13.46 and an intraday high of $13.81 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 16, 2016, John R. Mclernon (director) purchased 1,500 shares at $11.56 per share price. According to the SEC, on Mar 9, 2016, William R Flatt (director) purchased 1,500 shares at $12.16 per share price. On Mar 9, 2016, Stephen B Shraiberg (director) purchased 5,000 shares at $12.01 per share price, according to the Form-4 filing with the securities and exchange commission.
City Office REIT Inc. is focused on acquiring owning and operating Class A and B office properties located within its target markets in the United States. The Company has 12 primary target markets which are located in metropolitan areas in the Southern and Western United States. As of December 31 2014 then Company owned nine office complexes which include 21 office buildings in the metropolitan areas of Boise (ID) Dallas (TX) Denver (CO) Portland (OR) Tampa (FL) Allentown (PA) and Orlando (FL). Eight of the nine properties of the Company owned as of December 31 2014 are managed by local third-party real estate operators six of which have invested equity with management and three of which continue to hold a minority equity interest in the property.