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

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 given a dividend of 0.10 per share by the real estate investment trust on Thursday, January 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

Shares of CIO stock opened at $5.66 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a 50-day moving average of $5.47 and a 200-day moving average of $5.49. City Office REIT has a one year low of $4.02 and a one year high of $6.63. The company 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 posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.36). City Office REIT had a negative net margin of 5.56% and a negative return on equity of 1.48%. The firm had revenue of $42.37 million during the quarter, compared to analysts’ expectations of $42.02 million. During the same quarter last year, the business posted $0.34 EPS. Equities research analysts forecast that City Office REIT will post 1.05 EPS for the current fiscal year.

About City Office REIT

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.