City Office REIT, Inc. (NYSE:CIO – Get Free Report) announced a quarterly dividend on Friday, September 13th, Wall Street Journal reports. Stockholders of record on Thursday, October 10th will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, October 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend is Thursday, October 10th.
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 -93.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect City Office REIT to earn $1.00 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 40.0%.
City Office REIT Stock Performance
Shares of CIO stock opened at $5.98 on Tuesday. The stock’s 50-day moving average is $5.77 and its two-hundred day moving average is $5.25. The firm has a market cap of $239.92 million, a price-to-earnings ratio of -21.34, a PEG ratio of 0.96 and a beta of 1.95. City Office REIT has a 1 year low of $3.45 and a 1 year high of $6.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.80 and a current ratio of 2.80.
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.
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