City Office REIT, Inc. (NYSE:CIO) announced a quarterly dividend on Monday, December 18th, Wall Street Journal reports. Stockholders of record on Thursday, January 11th will be given a dividend of 0.235 per share by the real estate investment trust on Thursday, January 25th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date of this dividend is Wednesday, January 10th.

City Office REIT has a dividend payout ratio of 98.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect City Office REIT to earn $1.11 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 84.7%.

City Office REIT (NYSE:CIO) traded up $0.04 during trading on Monday, hitting $13.15. 178,049 shares of the stock were exchanged, compared to its average volume of 155,281. The company has a current ratio of 3.94, a quick ratio of 3.94 and a debt-to-equity ratio of 2.80. The stock has a market capitalization of $396.73, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.53 and a beta of 0.22. City Office REIT has a one year low of $11.43 and a one year high of $13.93.

Several analysts have commented on CIO shares. ValuEngine upgraded shares of City Office REIT from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Zacks Investment Research downgraded shares of City Office REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. FBR & Co reaffirmed a “buy” rating on shares of City Office REIT in a research note on Friday, October 6th. Finally, B. Riley reaffirmed a “buy” rating and set a $14.50 target price on shares of City Office REIT in a research note on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.50.

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City Office REIT Company Profile

City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.

Dividend History for City Office REIT (NYSE:CIO)

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