CIO - City Office REIT, Inc.

NYSE - Nasdaq Real Time Price. Currency in USD
14.02
+0.11 (+0.75%)
As of 3:53PM EST. Market open.
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Previous Close13.91
Open13.91
Bid14.03 x 900
Ask14.04 x 900
Day's Range13.92 - 14.11
52 Week Range10.72 - 14.50
Volume271,370
Avg. Volume413,317
Market Cap764.478M
Beta (5Y Monthly)0.40
PE Ratio (TTM)N/A
EPS (TTM)-0.38
Earnings DateFeb 25, 2020
Forward Dividend & Yield0.94 (6.83%)
Ex-Dividend DateJan 07, 2020
1y Target Est15.19
  • Business Wire

    City Office REIT Announces Fourth Quarter and Full Year 2019 Earnings Release and Conference Call

    City Office REIT CIO announces Q4 earnings release and conference call

  • 3 “Strong Buy” Dividend Stocks Yielding Over 6%
    TipRanks

    3 “Strong Buy” Dividend Stocks Yielding Over 6%

    Once again, we’re scanning the markets for high-value stocks. The key factors to look for are a solid upside potential combined with a high dividend yield. Today we’ll reverse course slightly, and point out three stocks that fit that profile – and show a lower-cost, more affordable point of entry for investors.Of the possible value factors for an investment, the dividend yield is probably the most important. It represents a quickly available, and recurring, cash return on a stock investment. With the Federal Reserve’s key rate set in the 1.5% to 1.75% range, and Treasury bond yields typically running well below 2%, dividends offer income-minded investors a route toward higher returns.While some big-name, high-profile stocks (Apple and Microsoft come to mind, along with Visa and Mastercard) offer token dividends yielding between 0.5% and 1.5%, and the average dividend yield among S&P-listed stocks is only 2%, there is no hard ceiling on dividend yields. We’ve used the TipRanks Stock Screener tool to search more than 6,500 stocks to find stocks with high yields exceeding 5%, along with a considerable upside potential and a Strong Buy consensus view from Wall Street’s analysts. The Screener returned 35 stocks to fit the profile – here are three of them.PacWest Bancorp (PACW)First on our list is a bank holding company, PacWest. These holding companies exist are formed to control one or more banks, and take advantage of Federal Reserve regulations to raise capital – through stock issues, borrowing, or acquisitions – more easily than independent banks. PacWest, based in Los Angeles and holding a market cap of $4.4 billion, is the parent company of Pacific Western Bank. The subsidiary bank has 79 branches in southern and central California, along with one branch in North Carolina, and controls $21 billion in assets.In the last four quarters, PacWest beat the earnings forecasts three times. The exception, however, was the most recent reported quarter – Q3 2019. In that report, the company showed an EPS of 92 cents, 2% below both the estimates and the Q3 2018 number. Revenues also missed expectations, with the $285.7 million reported 1.7% below the forecast, and almost 4% below the year-ago value. Despite the recent quarterly disappointment, PACW shares were up 22.5% in 2019.Going back as far as 2011, PACW has a history of gradually raising its dividend payment. The current quarterly payout is 60 cents per share; the company raised it from 50 cents in February 2018, marking the third increase in seven years, and a 233% increase from the 2011 value. PACW’s dividend is reliable, too, and paid out regularly each quarter. The annualized value, $2.40, makes the yield a healthy 6.54%. Finally, at a payout ratio of 65%, the dividend is easily sustainable. All of this, taken together, makes PACW a true dividend champion.Writing from Piper Sandler, Aaron Deer sees growth potential for both the bank and its holding company. He writes, “We expect solid yearend growth after a slower summer… We look for deposits growth to also hit a double-digit pace, with good inflows from both the community bank and venture division…. Operating expenses should remain well controlled but there could be a slight uptick from the new Colorado branch and bankers hired in that market… Some credit noise is possible but we think overall asset quality should remain healthy.”Deer gives PACW a Buy rating with a $44 price target. At current share price levels, this indicates a 20% upside potential. (To watch Deer’s track record, click here)Deer’s is not the only bullish report PACW has received recently. The stock’s Strong Buy consensus rating is based on three reviews, all of which agree that this stock is a Buying proposition. At $36.68, the current share price is a bargain price, and the average price target of $41.67 suggests an upside of nearly 14%. (See PacWest’s stock analysis at TipRanks)City Office REIT (CIO)Our next stock offers a slight variation on the value factors. With a lower share price and a higher dividend yield, CIO is both easier to enter and brings a better return. Neither of these factors is surprising, as City Office is a Real Estate Investment Trust (REIT), a company formed to purchase, own, and operate various types of properties – commercial, residential, industrial – or mortgage securities, and reap the profits. By law, REITs are required to return a high percentage of their profits to the shareholders, and usually use dividends to comply. As its name suggests, City Office focuses on metropolitan office spaces. The company operates mainly in the Southern and Western US.City Office derives its profits from 66 office buildings in Tampa, Orlando, Dallas, Denver, Phoenix, San Diego, and Portland. The properties have total of 5.9 million square feet in net rentable area, and are located in some of the country’s faster growing urban centers.Like many REITs, CIO reports earnings as funds from operations. In the most recent quarter reported, Q3 2019 the company gave an FFO of 29 cents per share, 6.4% below the forecast, but up 3.5% year-over-year. Revenues showed a stronger yoy gain, of 16%, and came in at $38.95 million – although that was still 1% below the estimates. CIO shares gained 41.6% in 2019, far outpacing the broader markets.CIO’s dividend, at 23.5 cents quarterly, may not sound like much, but it annualizes to 94 cents and offers a very high yield of 6.96%. The company has paid out this dividend consistently since 2015, although it has not raised the payment in that time. The payout ratio, which compares the dividend to the quarterly earnings, is 81%, a typical value for REITs.4-star analyst Mitchell Germain, from JMP Securities, is bullish on CIO, writing, “Our positive investment opinion is driven by market mix, with an emphasis on the Sunbelt, and a compelling value-add investment strategy, anchored on adding market scale, and finding smaller investments that have less institutional interest. Shares currently trade at 11.7x (2020e FFO/share), which compares to the office REIT sector average of 17.2x, keeping us positive on the investment…”Hanold set a $15 price target with his Buy rating, indicating confidence in an 11% upside for the stock. ( (To watch Germain’s track record, click here)Like PACW above, CIO has three recent Buy reviews backing up its unanimous Strong Buy consensus rating. The stock’s $14.83 average price target indicates an upside potential of 9.8% from the $13.50 current share price. (See City Office’s stock analysis at TipRanks)Starwood Property Trust (STWD)The last stock on today’s list is another REIT, this one focused on mortgage loans, mainly commercial mortgage-backed securities and other commercial real estate debt investment, but the company has also invested in similar residential mortgage loans and securities. With a market cap of $7.01 billion, and an investment portfolio exceeding $16 billion, Starwood is the largest commercial mortgage REIT in the US.Starwood’s most recent quarterly report – again, for Q3 of last year – showed slightly mixed results, but was generally positive. EPS was down 1.8% from the year before, but the 52 cents reported met expectations. Total quarterly revenue, at $327.19, missed the forecast by 1.5%, but was up 14.5% year-over-year. Shares slipped 1% after the report, but have since gained 5.7%. Overall, STWD shares showed a 36.7% appreciation in 2019.STWD’s dividend has been held steady at 48 cents since 2014. This quarterly payment translates to an annualized value of $1.92 and a strong yield of 7.72%. That yield is almost 4 times the S&P 500 average, and over 4 times the average return of Treasure bonds. Combined with the moderate share price of $24.88 and the strong appreciation in the past 12 months, this makes STWD an excellent investment value.This stock’s solid performance attracted attention from Donald Fandetti, 5-star analyst from Wells Fargo. Fandetti initiated coverage of STWD with a Buy rating, saying, “We view STWD as one of the best positioned commercial real estate finance companies that also has a history of successfully incubating new businesses… STWD’s div yield is 600+ bps over the 10-yr yield vs historical 250-350 pre-crisis periods.”Fandetti supported his view of STWD with a $26 price target, implying a modest 4.5% growth potential to the upside. (To watch Fandetti’s track record, click here)Starwood’s Strong Buy consensus rating is based on three Buys set in the past two months. As noted, shares sell for $24.88; the $26.50 average price target suggests an upside potential of 6.5% from that level. (See Starwood’s stock analysis at TipRanks) *

  • How Much Are City Office REIT, Inc. (NYSE:CIO) Insiders Spending On Buying Shares?
    Simply Wall St.

    How Much Are City Office REIT, Inc. (NYSE:CIO) Insiders Spending On Buying Shares?

    We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are...

  • Hedge Funds Have Never Been More Bullish On City Office REIT Inc (CIO)
    Insider Monkey

    Hedge Funds Have Never Been More Bullish On City Office REIT Inc (CIO)

    Last year's fourth quarter was a rough one for investors and many hedge funds, which were naturally unable to overcome the big dip in the broad market, as the S&P 500 fell by about 4.8% during 2018 and average hedge fund losing about 1%. The Russell 2000, composed of smaller companies, performed even worse, trailing […]

  • Business Wire

    City Office REIT Announces Dividends for Fourth Quarter 2019

    City Office REIT, Inc. (NYSE: CIO) (the "Company" or "City Office") announced today that its Board of Directors authorized a quarterly dividend of $0.235 per share of common stock and common unit of partnership interest for the fourth quarter of 2019.

  • Thomson Reuters StreetEvents

    Edited Transcript of CIO earnings conference call or presentation 1-Nov-19 3:00pm GMT

    Q3 2019 City Office REIT Inc Earnings Call

  • How Should Investors Feel About City Office REIT, Inc.'s (NYSE:CIO) CEO Pay?
    Simply Wall St.

    How Should Investors Feel About City Office REIT, Inc.'s (NYSE:CIO) CEO Pay?

    Jamie Farrar became the CEO of City Office REIT, Inc. (NYSE:CIO) in 2014. First, this article will compare CEO...

  • Business Wire

    City Office REIT to Be Added to the MSCI US REIT Index (RMZ)

    City Office REIT, Inc. (CIO) (“City Office” or the “Company”) announced today that it will be added to the MSCI US REIT Index (RMZ) effective as of the close of market on November 26, 2019. “We are pleased to be joining the public equity REITs that comprise the RMZ,” said James Farrar, the Company’s Chief Executive Officer. “The inclusion in this leading REIT index is a significant milestone for the Company.

  • City Office REIT (CIO) Q3 FFO and Revenues Miss Estimates
    Zacks

    City Office REIT (CIO) Q3 FFO and Revenues Miss Estimates

    City Office REIT (CIO) delivered FFO and revenue surprises of -6.45% and -1.04%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Business Wire

    City Office REIT Reports Third Quarter 2019 Results

    City Office REIT, Inc. today announced its results for the quarter ended September 30, 2019.

  • Should You Buy City Office REIT Inc (CIO)?
    Insider Monkey

    Should You Buy City Office REIT Inc (CIO)?

    We are still in an overall bull market and many stocks that smart money investors were piling into surged through October 17th. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 45% and 39% respectively. Hedge funds' top 3 stock picks returned 34.4% this year and beat the S&P […]

  • What's in Store for City Office REIT's (CIO) Q3 Earnings?
    Zacks

    What's in Store for City Office REIT's (CIO) Q3 Earnings?

    Capital improvements at City Office REIT's (CIO) properties expected to have helped the company witness occupancy gains and higher rents in Q3.

  • Business Wire

    City Office REIT Announces Third Quarter 2019 Earnings Release and Conference Call

    City Office REIT, Inc. announced today it will release its financial results for the quarter ended September 30, 2019, before the market opens on Friday, November 1, 2019.

  • Is City Office REIT (CIO) Stock Outpacing Its Finance Peers This Year?
    Zacks

    Is City Office REIT (CIO) Stock Outpacing Its Finance Peers This Year?

    Is (CIO) Outperforming Other Finance Stocks This Year?

  • Just 4 Days Before City Office REIT, Inc. (NYSE:CIO) Will Be Trading Ex-Dividend
    Simply Wall St.

    Just 4 Days Before City Office REIT, Inc. (NYSE:CIO) Will Be Trading Ex-Dividend

    Readers hoping to buy City Office REIT, Inc. (NYSE:CIO) for its dividend will need to make their move shortly, as the...

  • Business Wire

    City Office REIT Announces Pricing of Public Offering of Common Stock

    City Office REIT, Inc. (CIO) (the “Company” or “City Office”) announced today that it has priced an underwritten public offering of 6,000,000 shares of its common stock for total gross proceeds of $83.1 million, before offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock. Including the issuance of 8,000,000 shares pursuant to the Company’s at-the-market (“ATM”) program during the third quarter, the Company expects that 53,647,063 shares of common stock will be outstanding immediately following this offering, excluding the underwriters’ option to purchase additional shares.

  • Business Wire

    City Office REIT Announces Public Offering of Common Stock

    City Office REIT, Inc. (CIO) (the “Company” or “City Office”) announced today that it has commenced an underwritten public offering of 6,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock. The Company intends to use the net proceeds from the offering for the repayment of amounts outstanding under its unsecured credit facility and for general working capital purposes, including funding future acquisitions, capital expenditures and investments.

  • Micron Technology, Palo Alto Networks, City Office REIT, L3Harris Technologies and National Fuel Gas highlighted as Zacks Bull and Bear of the Day
    Zacks

    Micron Technology, Palo Alto Networks, City Office REIT, L3Harris Technologies and National Fuel Gas highlighted as Zacks Bull and Bear of the Day

    Micron Technology, Palo Alto Networks, City Office REIT, L3Harris Technologies and National Fuel Gas highlighted as Zacks Bull and Bear of the Day

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    While Ventas' (VTR) investments in strategic markets, and research and innovation projects will likely drive long-term growth, there will be no respite from elevated senior housing asset supply.

  • 3 Safe Haven REITs for Dividend Investors to Buy in September
    Zacks

    3 Safe Haven REITs for Dividend Investors to Buy in September

    REITs are great options for income investors. With the yield on the 10-year U.S. Treasury note at 1.81%, let's dive into three REITs, with strong Zacks Ranks, that we found using our Zacks Stock Screener...