City Office REIT Q2 Core FFO Per SHare $0.35 Down From $0.40 YoY, Sales $44.60M Beat $43.89M Estimate
Portfolio Pulse from Benzinga Newsdesk
City Office REIT (NYSE:CIO) reported Q2 Core FFO per share of $0.35, a 12.5% decrease YoY. However, the company's quarterly sales of $44.60M beat the analyst consensus estimate of $43.89M by 1.63%, despite being a 1.96% decrease YoY.
August 04, 2023 | 12:44 pm
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NEUTRAL IMPACT
City Office REIT's Q2 earnings show a decrease in Core FFO per share but an increase in sales compared to estimates.
The decrease in Core FFO per share indicates a potential decrease in profitability, which could negatively impact the stock price. However, the fact that sales beat estimates could have a positive effect, balancing out the potential negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100