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 Q4 2023

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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

VANCOUVER , Aug. 3, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended June 30, 2023. Second Quarter Highlights Rental and other revenues were $44.6 million.

City Office REIT Reports Second Quarter 2023 Results

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In the fast-paced and unpredictable nature of the stock market, investors are constantly on the lookout for strategies that can secure stable returns in a tumultuous environment.

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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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Investors have good reason to be concerned about the real-estate market. It has been obvious for decades that the U.S. has too many retail properties, and now, changing work habits promise to put downward pressure on office lease prices for years to come.

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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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In the past decade, many REITs have become complacent and devised aggressive financing strategies that were underpinned by low interest rates. The sudden shift in the interest rates and a probability of a "higher-for-longer" scenario can put a notable share of REITs in a "nuclear winter" territory in my view.

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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.

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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.

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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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Many REITs opportunistically repurchased shares at a discount to their net asset value. Those buybacks could help boost their values in the future.

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Almost $1.5 trillion of U.S. commercial real estate debt comes due for repayment before the end of 2025. Most REITs are in good shape in terms of their balance sheets, but we are beginning to see more cracks in the foundation.

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

News for City Office REIT Stock (CIO)