City Office REIT Inc. (CIO) expanding its growth trajectory ahead

City Office REIT Inc. (NYSE: CIO) stock fell -8.86% on Wednesday to $4.63 against a previous-day closing price of $5.08. With 0.59 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.5 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $5.0800 whereas the lowest price it dropped to was $4.5700. The 52-week range on CIO shows that it touched its highest point at $14.10 and its lowest point at $4.03 during that stretch. It currently has a 1-year price target of $7.90. With its current market cap of 181.03 million, CIO has annualized dividend of $0.40 while the current yield stands at 8.64%. Beta for the stock currently stands at 1.60.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CIO was up-trending over the past week, with a rise of 1.76%, but this was down by -20.72% over a month. Three-month performance dropped to -47.21% while six-month performance fell -53.14%. The stock lost -64.33% in the past year, while it has lost -44.75% so far this year. A look at the trailing 12-month EPS for CIO yields -0.36 with Next year EPS estimates of -0.12. For the next quarter, that number is -0.07. This implies an EPS growth rate of -97.90% for this year and 47.80% for next year. EPS is expected to grow by 9.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 43.40%.

Float and Shares Shorts:

At present, 39.87 million CIO shares are outstanding with a float of 38.49 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.67 million, which was 1.68% higher than short shares on Mar 30, 2023. In addition to Mr. James Thomas Farrar CFA as the firm’s CEO & Director, Mr. Gregory Tylee serves as its COO & Pres.

Institutional Ownership:

Through their ownership of 76.90% of CIO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.87% of CIO, in contrast to 38.28% held by mutual funds. Shares owned by individuals account for 37.36%. As the largest shareholder in CIO with 9.83% of the stake, The Vanguard Group, Inc. holds 3,923,588 shares worth 3,923,588. A second-largest stockholder of CIO, BlackRock Fund Advisors, holds 2,871,697 shares, controlling over 7.19% of the firm’s shares. LSV Asset Management is the third largest shareholder in CIO, holding 1,865,941 shares or 4.67% stake. With a 4.36% stake in CIO, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 1,741,925 shares are owned by the mutual fund manager. The Capitol Series Trust – Fuller & T, which owns about 4.33% of CIO stock, is the second-largest Mutual Fund holder. It holds 1,727,974 shares valued at 10.06 million. Vanguard Total Stock Market ETF holds 2.95% of the stake in CIO, owning 1,177,661 shares worth 6.85 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CIO reported revenue of $45.50M and operating income of $9.35M. The EBITDA in the recently reported quarter was $24.76M and diluted EPS was $0.02.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CIO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CIO analysts setting a high price target of $12.00 and a low target of $5.00, the average target price over the next 12 months is $7.90. Based on these targets, CIO could surge 159.18% to reach the target high and rise by 7.99% to reach the target low. Reaching the average price target will result in a growth of 70.63% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CIO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 360,630 while 164,190 shares were sold.

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