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

City Office REIT, Inc. (NYSE:CIO) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 7.08%. The ex-dividend date is Thursday, January 9th.

City Office REIT has decreased its dividend by an average of 4.3% annually 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. 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 0.5 %

Shares of CIO stock traded down $0.03 on Tuesday, reaching $5.65. The company had a trading volume of 250,535 shares, compared to its average volume of 225,459. The company has a 50-day moving average of $5.47 and a 200-day moving average of $5.49. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.02. The stock has a market cap of $226.87 million, a PE ratio of -13.43, a PEG ratio of 0.91 and a beta of 1.99. City Office REIT has a 12 month low of $4.02 and a 12 month high of $6.63.

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 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 business had revenue of $42.37 million for the quarter, compared to the consensus estimate of $42.02 million. During the same quarter last year, the firm earned $0.34 EPS. On average, equities analysts forecast that City Office REIT will post 1.05 earnings per share 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.