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

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

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 , June 30, 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 June 30, 2023, before the market opens on Thursday, August 3, 2023. City Office's management will hold a conference call at 11:00 am Eastern Time on August 3, 2023 to discuss the Company's financial results.

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

City Office REIT (CIO) faces challenges due to a high debt ratio, unfavorable lease maturities, and rising interest rate costs, making its equity a less attractive investment. CIO's preferred shares offer a more appealing option, with a current yield of 9.7% and potential for capital appreciation. Ample liquidity, strong cash retention, and signs of resiliency in Q1 2023 results suggest that CIO can refinance and survive the office crisis, making its preferred shares a safer investment.

City Office REIT: Opportunity To Capture 9.7% Yield Via Preferred Shares

City Office REIT has recently cut the dividend on its common shares, and that's good news as the payout ratio will now drop below 100%. The preferred shares are still in good shape thanks to a safety net of almost $700M in common equity on the balance sheet. The book value of the unencumbered properties exceeds $800M. Plenty of value to cover the $270M in debt on the corporate level and the $112M in preferred shares outstanding.

City Office REIT: I'm Holding Onto My 9.7% Yielding Preferred Shares

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The new pariah of the commercial real estate sector, Office REITs, have remained in free-fall in recent months, plunging another 30% this year following a plunge of nearly 40% last year. Just how bad is it? The surge in interest rates has turned a weak-but-manageable situation into a bleak one, but there is more nuance than what the prevailing narrative would suggest.

Office REITs: The New Malls

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Before you call me snaggle tooth, all of my teeth did eventually grow in and I know my shirt looks more like something out of the Brady Bunch era. I wish I could go back in time when life was so easy.

Who Sunk Your REIT Battleship?

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U.S. equity markets finished lower on a turbulent week after the Federal Reserve continued its historically-aggressive monetary tightening course, sparking renewed turmoil in the regional banking sector. After closing at its highest levels since early February last week, the S&P 500 slipped 0.8% this week, using a late-week rebound to pare its steepest four-day declines since the SVB collapse.

Fed Hikes, Turmoil Ensues

An office REIT located in the promising sunbelt region. Unfortunately, with high lease expirations and low liquidity.

City Office REIT: Cheap For A Reason

City Office REIT, Inc. (NYSE:CIO ) Q1 2023 Earnings Conference Call May 5, 2023 11:00 AM ET Company Participants Tony Maretic - CFO, Treasurer & Corporate Secretary Jamie Farrar - CEO Conference Call Participants Rob Stevenson - Janney Barry Oxford - Colliers Craig Kucera - B. Riley Operator Good morning, and welcome to the City Office REIT, Inc. First Quarter 2023 Earnings Conference Call.

City Office REIT, Inc. (CIO) Q1 2023 Earnings Call Transcript

City Office REIT (CIO) came out with quarterly funds from operations (FFO) of $0.37 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to FFO of $0.40 per share a year ago.

City Office REIT (CIO) Surpasses Q1 FFO and Revenue Estimates

VANCOUVER , May 5, 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 second 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 Second Quarter 2023

VANCOUVER , May 5, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended March 31, 2023. First Quarter Highlights Rental and other revenues were $46.0 million.

City Office REIT Reports First Quarter 2023 Results

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Dividend Cuts A-Plenty

VANCOUVER , April 10, 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 March 31, 2023, before the market opens on Friday, May 5, 2023.

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

City Office REIT owns office buildings. The AFFO/share in the most recent quarter came in 40% below the current distribution rate.

City Office REIT: Dividends Are Unsustainable, The 9.9% Yielding Preferred Shares Are The Way To Go

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News for City Office REIT Stock (CIO)