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 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 , Feb. 23, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") today announced the appointment of a new member to the Company's Board of Directors (the "Board") and changes to Board roles. Michael Mazan, a finance and investment industry veteran, has been appointed to the Board, effective today.

City Office REIT Announces New Board Member and Board Role Changes

VANCOUVER , Feb. 23, 2023 /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, 2022. Fourth Quarter Highlights Rental and other revenues were $44.6 million.

City Office REIT Reports Fourth Quarter and Full Year 2022 Results

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Office REITs have been far-and-away the worst-performing property sector since the start of the pandemic, as depressed utilization rates and recession concerns have curbed office space demand. Work-From-Home-Forever? Occupiers due for renewal have been somewhat-reluctant to cut office space, with leasing volumes still at 75% of pre-pandemic levels, but fundamentals softened more definitively in late 2022.

Office REITs: Pain Is Priced In

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VANCOUVER , Jan. 30, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("the Company"), today announced the tax treatment of its 2022 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 2022 Distributions

VANCOUVER , Jan. 12, 2023 /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, 2022, before the market opens on Thursday, February 23, 2023. City Office's management will hold a conference call at 11:00 am Eastern Time on February 23, 2023 to discuss the Company's financial results.

City Office REIT Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call

City Office REIT shares have declined 60% over the past year and now yield nearly 10%. Following a series of transformational transactions in late 2021, the company has a portfolio of high quality, Class A sunbelt office real estate.

City Office REIT: 9.9% Yield And Plenty Of Upside

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VANCOUVER , Dec. 15, 2022 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today that its Board of Directors has authorized a quarterly dividend amount of $0.20 per share of common stock and common unit of partnership interest for the fourth quarter of 2022. 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 2022

City Office REIT focuses on office properties in the US. The REIT appears to be cheap based on its FFO performance, but the AFFO per share doesn't cover the distribution on the common units.

City Office REIT: The Preferred Shares Now Offer A 9% Yield

City Office REIT has a high-quality portfolio and has seen over 99% rent collection over the past 3 years. The dividend is well covered by Core FFO and leverage is modest.

8%-Yielding City Office REIT Is Now Way Too Cheap

City Office REIT, Inc. (NYSE:CIO ) Q3 2022 Earnings Conference Call November 7, 2022 11:00 AM ET Company Participants Tony Maretic - Chief Financial Officer, Treasurer and Corporate Secretary Jamie Farrar - Chief Executive Officer Conference Call Participants Rob Stevenson - Janney Barry Oxford - Colliers Michael Carroll - RBC Craig Kucera - B. Riley Bill Crow - Raymond James Operator Good morning.

City Office REIT, Inc. (CIO) Q3 2022 Earnings Call Transcript

City Office REIT (CIO) delivered FFO and revenue surprises of 5.41% and 2.71%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

City Office REIT (CIO) Surpasses Q3 FFO and Revenue Estimates

VANCOUVER , Nov. 7, 2022 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended September 30, 2022. Third Quarter Highlights Rental and other revenues were $45.5 million.

City Office REIT Reports Third Quarter 2022 Results

VANCOUVER , Oct. 6, 2022 /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, 2022, before the market opens on Monday, November 7, 2022. City Office's management will hold a conference call at 11:00 am Eastern Time on November 7, 2022 to discuss the Company's financial results.

City Office REIT Announces Third Quarter 2022 Earnings Release and Conference Call

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The REIT sector has endured declines in 6 of the first 8 months of 2022, including a -5.29% total return in August. Micro cap REITs (+6.9%) outperformed in August, while large caps (-5.17%), small caps (-6.65%) and mid caps (-7.51%) declined.

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VANCOUVER , Sept. 15, 2022 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today that its Board of Directors has authorized a quarterly dividend amount of $0.20 per share of common stock and common unit of partnership interest for the third quarter of 2022.

City Office REIT Announces Dividends for Third Quarter 2022

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Editor's note: This article is regularly updated with the latest information. Given the recent performance of the sector, now may not seem like a great time to buy real estate investment trusts (REITs).

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City Office REIT is a well-positioned office REIT with a strong focus on "18-hour" cities. This strategy, combined with market undervaluation, has resulted in strong total returns for CIO.

City Office REIT: A 7% Yielding Small Cap That Could Deliver Big Returns

City Office REIT, Inc. (NYSE:CIO ) Q2 2022 Earnings Conference Call August 4, 2022 11:00 AM ET Company Participants Tony Maretic - Chief Financial Officer, Treasurer and Corporate Secretary Jamie Farrar - Chief Executive Officer Conference Call Participants Michael Carroll - RBC Rob Stevenson - Janney Craig Kucera - B. Riley Securities Operator Good morning and welcome to the City Office REIT Inc. Second Quarter 2022 Earnings Conference Call.

City Office REIT, Inc. (CIO) CEO Jamie Farrar on Q2 2022 Results - Earnings Call Transcript

City Office REIT (CIO) delivered FFO and revenue surprises of 2.56% and 2.22%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

City Office REIT (CIO) Tops Q2 FFO and Revenue Estimates

VANCOUVER , Aug. 4, 2022 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended June 30, 2022. Second Quarter Highlights Rental and other revenues were $45.5 million.

City Office REIT Reports Second Quarter 2022 Results

News for City Office REIT Stock (CIO)