City Office REIT, Inc. (CIO) To Go Ex-Dividend on January 9th

City Office REIT, Inc. (NYSE:CIO) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date of this dividend 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 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 6.9 %

City Office REIT stock opened at $5.26 on Thursday. City Office REIT has a 12-month low of $4.02 and a 12-month high of $6.63. The stock has a market capitalization of $211.21 million, a PE ratio of -12.52, a price-to-earnings-growth ratio of 0.91 and a beta of 1.99. The firm has a 50 day simple moving average of $5.46 and a 200-day simple moving average of $5.49. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.42 and a quick ratio of 2.42.

City Office REIT (NYSE:CIO) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.11) earnings per share (EPS) 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 firm had revenue of $42.37 million for the quarter, compared to analyst estimates of $42.02 million. During the same quarter last year, the business posted $0.34 earnings per share. As a group, equities research analysts expect that City Office REIT will post 1.05 EPS for the current fiscal year.

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.