City Office REIT Q3 2024 FFO $0.27 Misses $0.28 Estimate, Sales $42.371M Beat $42.138M Estimate
Portfolio Pulse from Benzinga Newsdesk
City Office REIT reported Q3 2024 earnings per share of $0.27, missing the consensus estimate of $0.28. However, sales of $42.371 million slightly exceeded expectations. Both earnings and sales showed a decline compared to the same period last year.
October 31, 2024 | 10:17 am
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City Office REIT's Q3 2024 earnings per share of $0.27 missed the consensus estimate of $0.28, marking a 20.59% decrease from last year. Sales of $42.371 million beat expectations but were down 4.17% year-over-year.
The earnings miss, despite a slight sales beat, indicates potential challenges for City Office REIT. The year-over-year decline in both earnings and sales suggests underlying issues, likely leading to negative short-term sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100