City Office REIT Q4 Core FFO Per Share $0.33 Beats $0.32 Estimate, Sales $44.32M Miss $44.93M Estimate
Portfolio Pulse from Benzinga Newsdesk
City Office REIT (CIO) reported Q4 Core FFO per share of $0.33, surpassing the $0.32 estimate, but its sales of $44.32M fell short of the $44.93M estimate. This represents a 13.16% decrease in Core FFO per share and a 0.65% decrease in sales from the same period last year.
February 22, 2024 | 11:16 am
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NEUTRAL IMPACT
City Office REIT reported a mixed Q4 with Core FFO per share beating estimates but sales missing expectations. Year-over-year declines in both Core FFO per share and sales were observed.
The mixed results with a beat on Core FFO per share but a miss on sales could lead to neutral investor sentiment in the short term. The year-over-year declines in both Core FFO per share and sales indicate potential challenges but the beat on Core FFO per share estimates may offset negative perceptions to some extent.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100