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

City Office REIT, Inc. (NYSE:CIO) announced a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Thursday, April 10th will be paid a dividend of 0.10 per share by the real estate investment trust on Thursday, April 24th. This represents a $0.40 dividend on an annualized basis and a yield of 7.90%.

City Office REIT has decreased its dividend payment by an average of 22.0% per year over the last three years. City Office REIT has a dividend payout ratio of -133.3% meaning 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 $1.01 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 39.6%.

City Office REIT Price Performance

CIO stock opened at $5.06 on Friday. The company has a fifty day moving average price of $5.13 and a 200-day moving average price of $5.44. The company has a market capitalization of $204.29 million, a P/E ratio of -8.16, a PEG ratio of 0.86 and a beta of 2.00. City Office REIT has a 52-week low of $4.09 and a 52-week high of $6.50. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.42 and a current ratio of 2.42.

City Office REIT (NYSE:CIO) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.40. City Office REIT had a negative net margin of 10.33% and a negative return on equity of 2.74%. The business had revenue of $41.92 million during the quarter, compared to the consensus estimate of $42.79 million. As a group, equities analysts expect that City Office REIT will post 1 EPS for the current 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.