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

City Office REIT, Inc. (NYSE:CIO) declared a quarterly dividend on Friday, June 14th, Wall Street Journal reports. Investors of record on Wednesday, July 10th will be paid a dividend of 0.10 per share by the real estate investment trust on Wednesday, July 24th. This represents a $0.40 dividend on an annualized basis and a yield of 7.80%. The ex-dividend date is Wednesday, July 10th.

City Office REIT has decreased its dividend by an average of 4.3% per year over the last three years. City Office REIT has a payout ratio of -102.6% meaning 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 $1.02 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 39.2%.

City Office REIT Trading Up 4.9 %

Shares of CIO opened at $5.13 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.23 and a current ratio of 3.23. City Office REIT has a 52-week low of $3.45 and a 52-week high of $6.70. The firm has a market cap of $205.99 million, a price-to-earnings ratio of -18.32, a PEG ratio of 0.77 and a beta of 1.94. The business’s fifty day moving average is $4.91 and its 200-day moving average is $5.00.

Wall Street Analyst Weigh In

Separately, StockNews.com raised City Office REIT from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th.

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.