City Office REIT is a holding company. Through its subsidiaries, Co. is engaged in owning, operating and acquiring office properties located in the Southern and Western U.S. Co. owns several office complexes comprised of various office buildings in the metropolitan areas of Dallas, Denver, Orlando, Phoenix, Portland, Raleigh, San Diego, Seattle and Tampa.
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Should City Office REIT shares be counted among the
Top 5 Cheap Dividend Stocks Below $5 label? To start, we see that the recent trading price for CIO stock is $4.68 and the dividend yield is 8.55% (as of 5/1/2024). The most recent quarter's (MRQ) earnings result, annualized, was $1.32/share. Looking at the sum total of quarterly earnings across the trailing twelve month (TTM) period, City Office REIT produced $1.39/share. And taking the median quarterly result across the TTM period, and annualizing it, results in $1.36/share. Comparing the current indicated annual dividend rate of $0.40 against that median result, we calculate a dividend payout ratio of 29.4%. Comparing the company's various earnings metrics against the stock price, we end up with a PE ratio of 3.4 for the TTM Median method, 3.5 for price to earnings using MRQ annualized, and 3.4 for current price/TTM earnings. Based on CIO's history, that recent TTM PE is low relative to the historical average, with the recent PE 67.9% lower than the average (TTM method) of 10.6.