City Office Reit Inc Stock Price, News & Analysis

City Office REIT (NYSE: CIO) reported its Q1 2025 results with mixed performance. The company recorded rental revenues of $42.3 million but posted a GAAP net loss of $3.5 million ($0.09 per share). Core FFO was $12.3 million ($0.30 per share), while AFFO reached $6.5 million ($0.16 per share). Portfolio occupancy stood at 84.9% (87.6% including signed leases). Notable achievements include executing 144,000 square feet of new and renewal leases, achieving a 4.4% increase in Same Store Cash NOI, and declaring a Q1 dividend of $0.10 per common share. Post-quarter, CIO announced a partnership with Property Markets Group to redevelop part of its St. Petersburg property into a 49-story Waldorf Astoria Residences tower.

City Office REIT (NYSE: CIO) has scheduled its first quarter 2025 financial results announcement for Friday, May 2, 2025, before market opening. The company will host a conference call at 11:00 am Eastern Time on the same day to discuss the results.

A supplemental financial package will be available on the company's website. Investors can participate via webcast through the Investor Relations section at www.cioreit.com or join the telephone conference using specific domestic and international dial-in numbers. The conference call replay will be accessible through July 31, 2025.

City Office REIT (NYSE: CIO) has declared its quarterly dividends for Q1 2025. The company will distribute $0.10 per share for common stock and common unit of partnership interest. Additionally, holders of the company's 6.625% Series A Cumulative Redeemable Preferred Stock will receive a quarterly dividend of $0.4140625 per share.

Both dividends will be paid on April 24, 2025, to stockholders of record as of the close of business on April 10, 2025.

City Office REIT (NYSE: CIO) reported its Q4 and full-year 2024 results. Q4 rental revenues were $41.9 million, with a GAAP net loss of $12.6 million ($0.31 per share). Core FFO was $11.7 million ($0.28 per share), while AFFO was $4.3 million ($0.10 per share).

The company's portfolio occupancy reached 85.4% (87.6% including signed leases), with approximately 205,000 square feet of new and renewal leases executed in Q4. Same Store Cash NOI increased by 3.3% compared to Q4 2023. The company achieved a 12.3% cash re-leasing spread in Q4 and 5.9% across 2024.

For 2025, CIO expects Core FFO per share of $1.10-$1.14, anticipating increased portfolio occupancy and positive Same Store Cash NOI growth. The company recently sold Superior Pointe property in Denver for $12.0 million and declared a Q4 dividend of $0.10 per common share.

City Office REIT (NYSE: CIO) has released the tax treatment details for its 2024 distributions for both common stock and 6.625% Series A Cumulative Redeemable Preferred Stock holders. For common stock, quarterly distributions were $0.100 per share, with $0.008539 classified as ordinary dividends and $0.091461 as return of capital. For Preferred Stock, quarterly distributions were $0.414063 per share, fully classified as ordinary dividends. No qualified dividends or capital gain distributions were made for either stock class. All ordinary dividend amounts qualify as Section 199A dividends.

City Office REIT (NYSE: CIO) has scheduled its fourth quarter and full year 2024 financial results release for Thursday, February 20, 2025, before market opening. The company will host a conference call at 11:00 am Eastern Time on the same day to discuss the results.

Management will provide a supplemental financial package on the company's website to support the discussion. Investors can access the webcast through the Investor Relations section at www.cioreit.com or join via telephone using specific domestic and international dial-in numbers. A replay of the call will be available through May 21, 2025, both via phone and on the company's website.

City Office REIT (NYSE: CIO) has announced significant leasing achievements at two key properties. At the Terraces property in Dallas, an existing tenant has signed a 60,000 square foot lease, extending their current 44,000 square foot space until 2036 and adding 16,000 square feet. This expansion, set to begin in early 2026, brings the property's occupancy to 95%. Additionally, at Bloc 83 in Raleigh, the commencement of a 29,000 square foot tenant lease has elevated the office component's occupancy to 98%.

City Office REIT (NYSE: CIO) has declared its dividends for Q4 2024. The company will pay a quarterly dividend of $0.10 per share of common stock and common unit of partnership interest. Additionally, a quarterly dividend of $0.4140625 per share will be paid on the 6.625% Series A Cumulative Redeemable Preferred Stock. Both dividends will be distributed on January 23, 2025, to stockholders of record as of January 9, 2025.

City Office REIT reported Q3 2024 results with rental revenues of $42.4 million and a GAAP net loss of $4.5 million ($0.11 per share). Core FFO was $11.1 million ($0.27 per share), while AFFO reached $4.8 million ($0.12 per share). The company's portfolio occupancy stood at 83.4%, or 87.0% including signed leases not yet occupied. During Q3, they executed 141,000 square feet of new and renewal leases and completed a $50.0 million term loan repayment. Same Store Cash NOI increased 0.2% for Q3 2024 compared to the previous year. The company updated its 2024 guidance, raising expectations for year-end occupancy to 85.0-86.0% and projecting Core FFO of $1.15-$1.17 per share.