Streetbeat News

CIO

City Office REIT, Inc.

https://www.cityofficereit.com

Industry

REIT - Office

City Office REIT, Inc. (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2020, CIO owned office complexes comprising 5.8 million square feet of net rentable area (NRA).

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City Office REIT has reiterated its full-year 2024 guidance as provided in its Q1 earnings press release.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 10:03 am

City Office REIT (NYSE:CIO) reported Q2 2024 earnings of $0.28 per share, missing the analyst estimate of $0.31. Sales were $42.342 million, also below the $43.189 million estimate and down 5.07% from last year.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 10:01 am

City Office REIT has revised its FY24 Core FFO (Funds From Operations) per share outlook downwards from $1.18-$1.22 to $1.14-$1.18, compared to the estimated $1.20.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:05 am

City Office REIT (CIO) reported Q1 2024 Core FFO of $0.33 per share, surpassing the $0.31 estimate, with sales of $44.493M also beating the $43.355M estimate, despite a 3.19% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:02 am

The Federal Reserve's indication of potential interest rate cuts in 2024 and 2025 has sparked a rally in the real estate sector, particularly benefiting stocks with high debt levels or exposure to the office industry. The Vanguard Real Estate ETF (VNQ) and the VanEck Office And Commercial Real Estate ETF (DESK) saw increases, along with significant gains for City Office REIT (CIO), Compass Inc. (COMP), Office Properties Income Trust (OPI), Anywhere Real Estate Inc. (HOUS), and Vornado Realty Trust (VNO).

Portfolio Pulse from Piero Cingari

March 21, 2024 | 9:29 pm

The article highlights the top 3 oversold real estate stocks, which are Office Properties Income Trust (OPI), Orion Office REIT Inc. (ONL), and City Office REIT, Inc. (CIO), based on their RSI values indicating potential undervaluation. OPI reported positive quarterly sales but saw a significant price drop. ONL faced a decline after posting worse-than-expected financial results and a disappointing FY24 Core FFO guidance. CIO also experienced a decrease in stock price following downbeat quarterly sales, despite positive leasing activity momentum.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 12:26 pm

City Office REIT (CIO) has provided guidance for its 2024 core FFO (Funds From Operations) per share, expecting it to be in the range of $1.18-$1.22. This forecast falls below the estimated $1.32 by analysts.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 11:18 am

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.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 11:16 am

Earnings reports for various companies are scheduled for February 22, 2024, covering a wide range of industries. These reports include both earnings per share and revenue forecasts, with some companies expected to report losses.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 10:27 am

Treasury Secretary Janet Yellen expressed concerns over the commercial real estate sector and the risks associated with digital assets, including stablecoins, in a House Financial Services Committee address. Despite these concerns, she offered an optimistic view of the U.S. economy, highlighting its strong growth and labor market resilience. Yellen called for enhanced regulatory frameworks for digital assets and discussed the efforts to manage commercial real estate risks. The VanEck Office and Commercial REIT ETF (DESK) and City Office REIT Inc. (CIO) were mentioned as experiencing declines.

Portfolio Pulse from Piero Cingari

February 06, 2024 | 5:12 pm

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