City Office REIT, Inc. (NYSE:CIO – Get Free Report) announced 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 annualized dividend and a yield of 7.90%.
City Office REIT has decreased its dividend by an average of 22.0% annually over the last three years. City Office REIT has a dividend payout ratio of -133.3% 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 $1.01 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 3.9 %
Shares of City Office REIT stock opened at $5.06 on Friday. The company has a market cap of $204.29 million, a P/E ratio of -8.16, a PEG ratio of 0.86 and a beta of 2.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.42 and a current ratio of 2.42. City Office REIT has a one year low of $4.09 and a one year high of $6.50. The firm has a fifty day moving average of $5.13 and a two-hundred day moving average of $5.44.
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.
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