Dividend Coverage: This Office REIT has a Dividend Yield of 6.83%; Will Trade Ex-Dividend on October 10, 2017

LONDON, UK / ACCESSWIRE / October 6, 2017 / Pro-Trader Daily takes a closer look at City Office REIT, Inc. (NYSE: CIO) as the Company’s stock will begin trading ex-dividend on October 10, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 09, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

http://protraderdaily.com/register/

Today, PRO-TD covers ex-dividend news on CIO. Get our free coverage by signing up at:

http://protraderdaily.com/optin/?symbol=CIO

Dividend Declared

On September 15, 2017, City Office REIT announced that its Board of Directors authorized a quarterly dividend of $0.235 per share of common stock and common unit of partnership interest for the third quarter of 2017. The dividends will be payable on October 25, 2017, to all stockholders and operating partnership unitholders of record as of the close of business on October 11, 2017.

City Office REIT’s indicated dividend represents a yield of 6.83%, which is substantially above the average dividend yield of 3.10% for the financial sector.

Dividend Insights

City Office REIT has a dividend payout ratio of 97.9%, which indicates that the Company distributes approximately $0.98 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, City Office REIT is forecasted to report earnings of $0.43 for the next year compared to its annualized dividend of $0.94 City Office is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.

As of June 30, 2017, City Office REIT’s cash and cash equivalents were worth $68.15 million compared to cash worth $13.70 million as on December 31, 2016. The Company’s total assets were $757.35 million on June 30, 2017, compared to total liabilities of $444.44 million as on December 31, 2016. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for City Office REIT

On October 02, 2017, City Office REIT announced the closing of a portfolio in San Diego, California for an aggregate purchase price of approximately $174.5 million.

On September 29, 2017, City Office REIT closed the previously announced acquisition of a ten-building, 669,653 SF portfolio located in San Diego for an aggregate purchase price of $174.5 million, exclusive of closing costs. The San Diego Portfolio is comprised of Mission City Corporate Center and the Sorrento Mesa portfolio (“Sorrento Mesa”), which includes a five-acre land parcel. The acquisition is anticipated to generate a combined pro forma net operating income yield of approximately 7.4% inclusive of estimated closing costs, reserves for planned capital improvements and the cost of the land parcel.

About City Office REIT, Inc.

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading markets in the Southern and Western US. City Office REIT currently owns or has a controlling interest in 5.0 million square feet of office properties.

Stock Performance

At the closing bell, on Thursday, October 05, 2017, City Office REIT’s stock rose slightly by 0.15%, ending the trading session at $13.78. A total volume of 182.32 thousand shares have exchanged hands, which was higher than the 3-month average volume of 121.28 thousand shares. The Company’s stock price rallied 10.84% in the last three months, 11.47% in the past six months, and 12.75% in the previous twelve months. Moreover, the stock gained 4.78% since the start of the year. The stock has a dividend yield of 6.81% and currently has a market cap of $417.04 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 477240