City Office REIT, Inc. (NYSE:CIO - Get Free Report) declared a quarterly dividend on Friday, March 14th, RTT News reports. Investors of record on Thursday, April 10th will be given 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 7.85%. The ex-dividend date of this dividend is Thursday, April 10th.
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 Stock Up 1.7 %
CIO stock traded up $0.09 on Tuesday, reaching $5.10. 223,037 shares of the company traded hands, compared to its average volume of 198,681. City Office REIT has a one year low of $4.09 and a one year high of $6.50. 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 company has a market cap of $205.62 million, a P/E ratio of -8.22, a price-to-earnings-growth ratio of 0.86 and a beta of 2.00. The firm has a fifty day simple moving average of $5.12 and a 200-day simple moving average of $5.43.
City Office REIT (NYSE:CIO - Get Free Report) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.40. City Office REIT had a negative return on equity of 2.74% and a negative net margin of 10.33%. The business had revenue of $41.92 million for the quarter, compared to the consensus estimate of $42.79 million. Research analysts anticipate that City Office REIT will post 1 earnings per share for the current year.
About City Office REIT
(
Get Free Report)
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.
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