City Office REIT

City Office REIT, Inc. is a real estate investment trust. It focuses on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. The company was founded on November 26, 2013 and is headquartered in Vancouver, Canada.

Earnings data Q1 2021

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Earnings data Q4 2021

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Earnings data Q3 2024

Earnings data Q4 2024

City Office REIT achieves record core FFO in 2022, eyes portfolio optimization for growth

City Office REIT (CIO) delivered strong financial performance in 2022, marked by record core FFO per share and strategic property transactions.
While facing challenges such as impairment charges and moderate growth outlook for 2023, CIO remains focused on optimizing its portfolio and driving earnings growth.
Opportunities lie in the company's emphasis on spec suites, divestment strategy, and market demand for renovated office spaces, positioning CIO for sustained value creation.
Investors should monitor CIO's execution of its 2023 strategy, including divestment plans and initiatives to enhance net operating income, for long-term performance indicators.

City Office REIT reports resilient Q1 performance amidst market challenges

City Office REIT (CIO) navigated market challenges in Q1 2023 with resilience, reporting solid financial performance and maintaining operational stability.
The company's strategic decisions to enhance liquidity, explore property disposition, and initiate a share repurchase program reflect a proactive stance towards future growth.
While facing market volatility and operational uncertainties, City Office REIT remains focused on optimizing its portfolio, engaging tenants, and creating long-term value for shareholders.
CEO Farrar's leadership and the team's commitment to financial discipline position City Office REIT to capitalize on opportunities and drive sustainable growth in the real estate sector.

City Office REIT reports solid Q2 performance amidst leasing challenges

City Office REIT's Q2 performance reflects positive leasing trends and financial stability, despite challenges in leasing volumes and asset occupancy.
The company's strengths lie in its focus on enhancing leasing prospects, maintaining liquidity, and driving value through rental growth.
While facing challenges such as slower leasing volumes and occupancy declines, City Office REIT has opportunities to optimize its portfolio and capitalize on strategic initiatives for growth.

City Office REIT reports robust Q3 performance amidst market challenges

City Office REIT delivered a strong performance in Q3 2023, with a focus on premium assets, financial stability, and strategic growth initiatives.
The company's proactive approach to managing debt, optimizing property performance, and exploring market opportunities positions it for long-term success.
While facing challenges in a competitive market environment, City Office REIT's strengths in asset quality, leasing strategies, and financial management provide a solid foundation for future growth.
By leveraging opportunities in rental rate growth, market dynamics, and capital optimization, City Office REIT aims to create sustainable value for shareholders and stakeholders.

City Office REIT reports strong 2023 performance and outlines 2024 guidance

City Office REIT's 2023 performance was solid, with positive market trends and a strong leasing pipeline for 2024.
Challenges with WeWork operations and analyst inquiries on debt and asset strategies were notable discussion points.
Opportunities lie in the current office market landscape, with potential for growth through strategic asset sales.
Guidance for 2024 indicates a focused approach on dispositions and maintaining core FFO per share.

City Office REIT (CIO) reports strong Q1 performance amidst market dynamics

City Office REIT (CIO) demonstrated strong financial performance and growth potential in Q1 2024, driven by new leases and strategic investments in property renovations.
While facing challenges such as guidance adjustments and debt management, the company remains well-positioned to capitalize on opportunities in the evolving office sector.
Overall, City Office REIT (CIO) shows resilience and proactive measures in navigating market dynamics, with a focus on enhancing portfolio value and driving income growth.

City Office REIT reports strong Q2 performance amidst market challenges

City Office REIT delivered strong financial results and showed improvements in leasing activity, positioning the company well in a challenging market.
Strategic property upgrades, potential mixed-use development, and reiterated guidance highlight a focus on long-term growth and value creation.
While facing challenges such as market liquidity and debt management, City Office REIT has opportunities to capitalize on industry trends and optimize its portfolio.
Overall, City Office REIT's performance, strengths, challenges, and opportunities suggest a balanced outlook with potential for growth and value creation.

City Office REIT (CIO) reports robust Q3 performance and optimistic outlook

City Office REIT (CIO) demonstrated strong financial performance and leasing activity in Q3 2024, leading to positive revisions in guidance categories.
The company's proactive approach to property renovations and value-enhancing opportunities, coupled with financial flexibility, positions them well for future growth.
While challenges exist in maintaining high occupancy levels and managing debt, City Office REIT (CIO) has opportunities to capitalize on industry trends and strengthen its market position.

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VANCOUVER , Feb. 22, 2024 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter and full year ended December 31, 2023. Fourth Quarter Highlights Rental and other revenues were $44.3 million.

City Office REIT Reports Fourth Quarter and Full Year 2023 Results

VANCOUVER , Jan. 26, 2024 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("the Company"), today announced the tax treatment of its 2023 distributions to holders of the Company's common stock and 6.625% Series A Cumulative Redeemable Preferred Stock ("Preferred Stock").  The tax information provided below should not be construed as tax advice and shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of the Company's distributions.

City Office REIT Announces Tax Treatment of 2023 Distributions

City Office REIT is trading at a nearly 70% discount to book value per share at the end of its most recent quarter. The Sun Belt office-focused REIT is currently paying out a 7.3% dividend yield after a series of cuts over the last few years. The quarterly distribution was 150% covered by adjusted FFO which dipped 3 cents year-over-year.

City Office REIT: Deep Value Or 7.3% Dividend Yield Trap?

VANCOUVER , Jan. 10, 2024 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today it will release its financial results for the quarter and year ended December 31, 2023, before the market opens on Thursday, February 22, 2024. City Office's management will hold a conference call at 11:00 am Eastern Time on February 22, 2024 to discuss the Company's financial results.

City Office REIT Announces Fourth Quarter and Full Year 2023 Earnings Release and Conference Call

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Office REITs are facing challenges as the hybrid work model becomes more popular, leading to downsizing and increased vacancies. Major companies like Charles Schwab, Johnson & Johnson, Dropbox, and Microsoft have already downsized their office spaces. Office REITs like Boston Properties, Kilroy Realty, City Office REIT, and SL Green are experiencing negative cash spreads and declining occupancy rates, indicating more trouble ahead.

Sell Alert: The Slaughter Of Office REITs Is Just Beginning

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REITs are performing well and expected to continue to rise, with potential for a 45% increase in the next 2-3 years. If the Fed reduces the prime rate, REIT yields will become more competitive with bonds and treasuries. REIT balance sheets are in good condition, with low debt ratios and valuations coming back into the low end of their normal range.

Top 12 REITs For The Next 12 Months

VANCOUVER , Dec. 15, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office," "CIO" or the "Company") announced today that its Board of Directors has authorized a quarterly dividend amount of $0.10 per share of common stock and common unit of partnership interest for the fourth quarter of 2023.   Additionally, the Board of Directors authorized a regular quarterly dividend of $0.4140625 per share of the Company's 6.625% Series A Cumulative Redeemable Preferred Stock.

City Office REIT Announces Dividends for Fourth Quarter 2023

Some high-yielding REITs have unsafe dividends, leading to potential dividend cuts and decline in share value. This article provides a list of 11 cash COW REITs with safe dividends, including companies from the cannabis and office sectors. There is also a list of high-yield REITs with slightly more risk but still considered safe by the Seeking Alpha Quant Ratings system.

Cash COWs: 11 High-Yield REITS With Very Safe Dividends

Since the publication of my initial buy article City Office REIT's preferred shares have performed slightly better than CIO's equity, registering a more balanced ride and a 7% total return. The company's ample liquidity, strong cash retention, and improving fundamentals were the initial factors behind the buy rating for the preferred shares. The most recent Q3 results entail mixed signals. The underlying FFO and occupancy ratio declined and the struggles with WeWork could inflict further damage down the road.

City Office REIT: A De-Risked 10% Preferred Yield

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REITs have experienced a significant drop in value due to rising interest rates and inflation. However, with inflation under control and interest rates expected to stabilize or decrease, REITs are poised for a surge. A list of 28 undervalued REITs with a yield of 5% or better is provided, along with 10 additional REITs to consider.

Buried Treasures: 10 Dramatically Undervalued REITs Yielding Over 5%

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Following the best week of the year, U.S. equity markets were mixed this week as interest rates rebounded from the prior week's plunge after Fed officials pushed back on market optimism. Posting gains in nine out of ten sessions since dipping into "correction territory" at the end of October, the S&P 500 gained 1.4% on the week, but Mid-Caps and Small-Caps posted declines. Following their best week since 2020, REITs took a step back this week as upward pressure on benchmark interest rates offset a solid conclusion to a strong earnings season.

Fed Says 'Not So Fast'

City Office REIT, Inc. (NYSE:CIO ) Q3 2023 Earnings Conference Call November 9, 2023 11:00 AM ET Company Participants Anthony Maretic - CFO, Secretary & Treasurer James Farrar - CEO & Director Conference Call Participants Robert Stevenson - Janney Montgomery Scott Barry Oxford - Colliers Securities William Crow - CIMB Research Operator Good morning, and welcome to the City Office REIT, Inc. Third Quarter 2023 Earnings Conference Call. [Operator Instructions].

City Office REIT, Inc. (CIO) Q3 2023 Earnings Call Transcript

VANCOUVER , Nov. 9, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended September 30, 2023. Third Quarter Highlights Rental and other revenues were $44.2 million.

City Office REIT Reports Third Quarter 2023 Results

City Office has been left for dead in the unloved REIT sector during late 2023, despite solid FFO generation and a stable future. The valuation setup is at all-time lows on work-from-home fears for office property demand, and rising long-term interest rates. A technical oversold condition, lack of volume selling to confirm new price lows in October, and a large price gain last week on light volume, make the bullish argument.

City Office REIT: Fortune Favors The Brave

Investors interested in REIT and Equity Trust - Other stocks are likely familiar with City Office REIT (CIO) and Crown Castle (CCI). But which of these two stocks is more attractive to value investors?

CIO vs. CCI: Which Stock Is the Better Value Option?

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Sharply higher long-term borrowing costs for real estate during late summer have been a huge headwind for REIT operations and investment valuations. The demand for commercial real estate, especially office space, is being questioned with the appearance of stay-at-home living/work trends. However, things change. A slower economy into 2024 could reverse interest rates lower and pinpoint a bottom in REIT pessimism.

9 REITs Blown Apart, Holding Serious 2024 Rebound Potential

VANCOUVER , Oct. 5, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today it will release its financial results for the quarter ended September 30, 2023, before the market opens on Thursday, November 9, 2023. City Office's management will hold a conference call at 11:00 am Eastern Time on November 9, 2023 to discuss the Company's financial results.

City Office REIT Announces Third Quarter 2023 Earnings Release and Conference Call

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Many high-quality equity REITs are trading at substantial discounts on price-to-NAV ratios. REITs with good management teams should be able to gain a premium to NAV, but very few are achieving this currently. The amount of new apartment construction poses a risk, but some REITs are trading at unusually cheap price-to-NAV ratios.

6 Stellar REITs At Big Discounts To NAV

VANCOUVER , Sept. 15, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office," "CIO" or the "Company") announced today that its Board of Directors has authorized a quarterly dividend amount of $0.10 per share of common stock and common unit of partnership interest for the third quarter of 2023.

City Office REIT Announces Dividends for Third Quarter 2023

City Office REIT's equity should be avoided due to a debt-saturated balance sheet, negative outlook on interest costs, and unfavorable lease maturities. Investing in CIO's preferred shares may be a better option, as the key risk (i.e., debt refinancings) is well managed due to the recent dividend cut and access to liquidity. The preferred share distributions are also well-covered by the AFFO making the bet on 9.7% yielding shares an attractive investment play.

City Office REIT: Exploring The Value Of Preferred Shares

City Office REIT, Inc. (NYSE:CIO ) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET Company Participants Anthony Maretic - CFO, Secretary & Treasurer James Farrar - CEO & Director Conference Call Participants Robert Stevenson - Janney Montgomery Scott Barry Oxford - Colliers Securities Craig Kucera - B. Riley Securities William Crow - CIMB Research Operator Good morning, and welcome to the City Office REIT, Inc. Second Quarter 2023 Earnings Conference Call.

City Office REIT, Inc. (CIO) Q2 2023 Earnings Call Transcript

City Office REIT (CIO) came out with quarterly funds from operations (FFO) of $0.35 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.40 per share a year ago.

City Office REIT (CIO) Matches Q2 FFO Estimates

News for City Office REIT Stock (CIO)