City Office REIT, Inc. (NYSE:CIO - Get Free Report) announced a quarterly dividend on Friday, June 13th, RTT News reports. Investors 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 7.42%.
City Office REIT has a dividend payout ratio of -111.1% meaning 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 $1.01 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 Price Performance
Shares of City Office REIT stock remained flat at $5.39 during trading hours on Friday. 150,621 shares of the stock traded hands, compared to its average volume of 198,222. The firm has a fifty day moving average price of $4.89 and a two-hundred day moving average price of $5.14. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 1.02. City Office REIT has a 52 week low of $4.19 and a 52 week high of $6.50. The firm has a market cap of $217.53 million, a P/E ratio of -8.69, a PEG ratio of 0.86 and a beta of 1.64.
City Office REIT (NYSE:CIO - Get Free Report) last announced its earnings results on Friday, May 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. City Office REIT had a negative net margin of 10.33% and a negative return on equity of 2.74%. The business had revenue of $42.26 million during the quarter, compared to the consensus estimate of $42.38 million. On average, sell-side analysts anticipate that City Office REIT will post 1 earnings per share for the current fiscal year.
Hedge Funds Weigh In On City Office REIT
An institutional investor recently bought a new position in City Office REIT stock. Strs Ohio purchased a new stake in shares of City Office REIT, Inc. (NYSE:CIO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,800 shares of the real estate investment trust's stock, valued at approximately $40,000. Institutional investors own 67.47% of the company's stock.
About City Office REIT
(
Get Free Report)
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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