City Office REIT, Inc. (NYSE:CIO – Get Free Report) declared a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Thursday, April 10th will be paid 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 dividend yield of 7.90%.
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. 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 CIO opened at $5.06 on Friday. City Office REIT has a 12 month low of $4.09 and a 12 month high of $6.50. The firm’s 50 day moving average is $5.13 and its 200-day moving average is $5.44. The stock has a market capitalization of $204.29 million, a PE ratio of -8.16, a P/E/G ratio of 0.86 and a beta of 2.00. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.02.
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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