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

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Earnings data Q4 2021

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Earnings data Q2 2022

Earnings data Q3 2022

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Earnings data Q1 2023

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Earnings data Q3 2023

Earnings data Q4 2023

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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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City Office REIT has demonstrated consistent cash flow growth through strategic investments in growth real estate markets and a robust stock repurchase program.

City Office: Cash Flow Growth, Proven Strategy, And Extremely Undervalued

VANCOUVER , Dec. 18, 2024 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office," "CIO" or the "Company") announced today that it has signed a 60,000 square foot lease with an existing tenant at its premier Terraces property located in Dallas, Texas.  The lease extends the tenant's existing 44,000 square foot space until 2036 and expands the tenant's space by 16,000 square feet.

City Office REIT Provides Update on Impactful Leasing

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The P/B ratio helps to identify low-priced stocks with high growth prospects. GM, FMS, CIO, TRTX and ZIM are some such stocks.

5 Low Price-to-Book Value Stocks to Buy as 2024 Draws to a Close

City Office REIT trades at a remarkably cheap 3.2x annualized fiscal 2024 third-quarter free cash flow, with a 31% free cash flow yield on market cap. Despite a high debt load, CIO's free cash flow comfortably covers its dividends, with a 6.8% yield for common shares and 8.3% for preferreds. CIO's portfolio is 83.4% occupied, set to rise to 87%, with strong leasing momentum and manageable lease expirations supporting future occupancy gains.

City Office REIT: Undervalued As Fed Cuts Rates

VANCOUVER , Dec. 13, 2024 /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 2024.   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 2024

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing City Office REIT (CIO) Right Now?

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About a year ago, I published two proposed portfolios:  Cash COWs, (high-yield and strong dividend safety), and Buried Treasures, (undervalued, high-yielding, with strong balance sheets and growth). The Cash COWs portfolio, selected for high yield and dividend safety, delivered a 6.91% cash yield with no dividend cuts, outperforming the VNQ by 242 bps. Despite not matching the S&P 500 or NASDAQ, Cash COWs performed well against the Dow Jones, S&P 400, and S&P 600 indices.

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Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both City Office REIT (CIO) and Omega Healthcare Investors (OHI). But which of these two stocks presents investors with the better value opportunity right now?

CIO vs. OHI: Which Stock Should Value Investors Buy Now?

City Office REIT (CIO) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

What Makes City Office REIT (CIO) a New Strong Buy Stock

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

CIO or OHI: Which Is the Better Value Stock Right Now?

City Office REIT, Inc. (NYSE:CIO ) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Tony Maretic - Chief Financial Officer, Treasurer and Corporate Secretary Jamie Farrar - Chief Executive Officer Conference Call Participants Upal Rana - KeyBanc Capital Markets Barry Oxford - Colliers Craig Kucera - Lucid Capital Markets Operator Good morning. And welcome to the City Office REIT, Inc. Third Quarter 2024 Earnings Conference Call.

City Office REIT, Inc. (CIO) Q3 2024 Earnings Call Transcript

City Office REIT (CIO) came out with quarterly funds from operations (FFO) of $0.27 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to FFO of $0.34 per share a year ago.

City Office REIT (CIO) Q3 FFO Miss Estimates

VANCOUVER , Oct. 31, 2024 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended September 30, 2024. Third Quarter Highlights Rental and other revenues were $42.4 million.

City Office REIT Reports Third Quarter 2024 Results

VANCOUVER , Oct. 8, 2024 /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, 2024, before the market opens on Thursday, October 31, 2024. City Office's management will hold a conference call at 11:00 am Eastern Time on October 31, 2024 to discuss the Company's financial results.

City Office REIT Announces Third Quarter 2024 Earnings Release and Conference Call

City Office REIT's preferreds still trade at a 24% discount to their liquidation value, as Fed rate cuts should drive further yield compression. The REIT is set to see its year-end occupancy come in between 83.5% to 85.5%, growth from the recent second quarter of 100 basis points at the midpoint. AFFO covers the common share dividend by 130%, securing its near-term future.

City Office REIT: The Preferreds Are Still Too Discounted, 8.7% Dividend Yield

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VANCOUVER , Sept. 13, 2024 /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 2024.

City Office REIT Announces Dividends for Third Quarter 2024

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High-quality REITs with higher yields than usual may be a good investment opportunity. Income investors may find U.S. treasuries more appealing due to lower risk and higher yields compared to most REITs. Seeking Alpha Premium offers a Dividend Safety grade for REITs. A grade of B- or better indicates a mere 1 in 50 risk of a dividend cut.

Cash Cows: 9 High-Yield REITs With Safe Dividends

City Office REIT, Inc. (NYSE:CIO ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Tony Maretic - Chief Financial Officer, Secretary & Treasurer Jamie Farrar - Chief Executive Officer & Director Conference Call Participants Rob Stevenson - Janney Upal Rana - KeyBanc Capital Markets Operator Good morning, and welcome to the City Office REIT, Inc. Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

City Office REIT, Inc. (CIO) Q2 2024 Earnings Call Transcript

City Office REIT (CIO) came out with quarterly funds from operations (FFO) of $0.28 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to FFO of $0.35 per share a year ago.

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

VANCOUVER , Aug. 1, 2024 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended June 30, 2024. Second Quarter Highlights Rental and other revenues were $42.3 million.

City Office REIT Reports Second Quarter 2024 Results

City Office REIT's preferred dividend payments are fully covered by FFO and AFFO. The REIT's balance sheet is relatively robust, with a decreasing LTV ratio. The preferred shares offer an attractive 9.4% yield with manageable risk due to robust common equity support.

City Office REIT: I Will Buy More 9.4% Yielding Preferred Shares

VANCOUVER , June 28, 2024 /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, 2024, before the market opens on Thursday, August 1, 2024. City Office's management will hold a conference call at 11:00 am Eastern Time on August 1, 2024 to discuss the Company's financial results.

City Office REIT Announces Second Quarter 2024 Earnings Release and Conference Call

VANCOUVER , June 14, 2024 /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 2024. 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 2024

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These REITs have a price-to-NAV range of 0.27x to 0.59x. There may be upside of more than 200% to the NAV estimate, which will probably decline over time. The estimates may be terrible. That's not my fault. You'll probably have a better time reading this, than reading my competitor's articles.

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