City Office REIT, Inc. (NYSE:CIO) Announces $0.10 Quarterly Dividend

City Office REIT, Inc. (NYSE:CIO - Get Free Report) declared a quarterly dividend on Friday, June 13th, RTT News reports. Shareholders of record on Thursday, July 10th will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, July 24th. This represents a $0.40 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date is Thursday, July 10th.

City Office REIT has a dividend payout ratio of -111.1% 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 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 Trading Down 0.5%

NYSE:CIO traded down $0.03 on Monday, reaching $5.38. The company's stock had a trading volume of 179,620 shares, compared to its average volume of 198,568. City Office REIT has a 1-year low of $4.19 and a 1-year high of $6.50. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market cap of $216.92 million, a PE ratio of -8.67, a PEG ratio of 0.86 and a beta of 1.64. The business's 50-day moving average price is $4.92 and its two-hundred day moving average price is $5.12.

City Office REIT (NYSE:CIO - Get Free Report) last posted its earnings results on Friday, May 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. City Office REIT had a negative return on equity of 2.74% and a negative net margin of 10.33%. The firm had revenue of $42.26 million during the quarter, compared to analysts' expectations of $42.38 million. Equities research analysts anticipate that City Office REIT will post 1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in City Office REIT stock. Strs Ohio purchased a new stake in City Office REIT, Inc. (NYSE:CIO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,800 shares of the real estate investment trust's stock, valued at approximately $40,000. 67.47% of the stock is owned by institutional investors.

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.