City Office REIT, Inc. to Issue Quarterly Dividend of $0.10 (NYSE:CIO)

City Office REIT, Inc. (NYSE:CIO) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Thursday, January 9th will be paid a dividend of 0.10 per share by the real estate investment trust on Thursday, January 23rd. This represents a $0.40 annualized dividend and a yield of 7.07%. The ex-dividend date is Thursday, January 9th.

City Office REIT has decreased its dividend payment by an average of 4.3% per year over the last three years. City Office REIT has a dividend payout ratio of -87.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect City Office REIT to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 38.8%.

City Office REIT Price Performance

Shares of CIO opened at $5.66 on Wednesday. The business’s fifty day moving average is $5.47 and its 200 day moving average is $5.49. City Office REIT has a 12-month low of $4.02 and a 12-month high of $6.63. 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 cap of $227.07 million, a P/E ratio of -13.46, a P/E/G ratio of 0.91 and a beta of 1.99.

City Office REIT (NYSE:CIO) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.36). The business had revenue of $42.37 million during the quarter, compared to the consensus estimate of $42.02 million. City Office REIT had a negative net margin of 5.56% and a negative return on equity of 1.48%. During the same period last year, the business posted $0.34 earnings per share. Sell-side analysts anticipate that City Office REIT will post 1.05 earnings per share for the current fiscal year.

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.