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

City Office REIT, Inc. (NYSE:CIO - Get Free Report) announced 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 by an average of 4.3% per year over the last three years. City Office REIT has a 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. 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 Trading Down 0.4 %

Shares of CIO stock traded down $0.02 during trading hours on Tuesday, hitting $5.66. 324,538 shares of the company's stock traded hands, compared to its average volume of 225,764. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 1.02. City Office REIT has a 12 month low of $4.02 and a 12 month high of $6.63. The stock has a market cap of $227.07 million, a PE ratio of -13.43, a price-to-earnings-growth ratio of 0.91 and a beta of 1.99. The stock's 50 day simple moving average is $5.47 and its 200 day simple moving average is $5.49.

City Office REIT (NYSE:CIO - Get Free Report) last announced its earnings results 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). The company had revenue of $42.37 million for the quarter, compared to analyst estimates of $42.02 million. City Office REIT had a negative return on equity of 1.48% and a negative net margin of 5.56%. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, sell-side analysts anticipate that City Office REIT will post 1.05 EPS for the current 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.