City Office Reit Inc Stock Price, News & Analysis

City Office REIT, Inc. (NYSE: CIO) announced a quarterly dividend of $0.20 per share for Q3 2022. The dividend will be payable on October 21, 2022, to stockholders of record as of October 7, 2022. Additionally, a dividend of $0.4140625 per share will be paid on the 6.625% Series A Cumulative Redeemable Preferred Stock. City Office focuses on acquiring and managing high-quality office properties in the Sun Belt markets and currently owns about 6.0 million square feet of office space.

City Office REIT (CIO) reported a net income of $1.0 million for Q2 2022, with Core FFO at $17.6 million. Total revenues reached $45.5 million. The company completed the sale of the Lake Vista Pointe property for $43.8 million, resulting in a $21.7 million gain. Occupancy was at 86.9%, affected by the new Bloc 83 property. The company repurchased 2.3 million shares for $30.2 million and declared a dividend of $0.20 per share. However, the 2022 guidance for Core FFO per share was lowered by $0.025, reflecting rising interest rates and leasing timing issues.

City Office REIT, Inc. (NYSE: CIO) will release its financial results for Q2 2022 on August 4, 2022. A conference call is scheduled for 11:00 am Eastern Time on the same day to discuss the results, with a supplemental financial package available on their website. City Office specializes in acquiring and managing high-quality office properties, currently owning or controlling 6.0 million square feet of office space across key markets in the Southern and Western United States. The Company is structured as a real estate investment trust for federal tax purposes.

City Office REIT (NYSE: CIO) has declared a quarterly dividend of $0.20 per share for Q2 2022. The dividend, along with a $0.4140625 per share dividend for its 6.625% Series A Cumulative Redeemable Preferred Stock, will be paid on July 22, 2022, to shareholders of record by the close of business on July 8, 2022. City Office REIT operates high-quality office properties across the Southern and Western U.S., controlling 6.0 million square feet of office space. The company is managed internally and is structured as a real estate investment trust (REIT).

City Office REIT, Inc. (NYSE: CIO) has finalized the sale of its Lake Vista Pointe property in Dallas, Texas, for $43.8 million, generating a gain of $22 million. This transaction yields a cash capitalization rate of 6.1% and is part of a larger trend, as the company has seen over $570 million in gains from ten dispositions thus far. Proceeds will be allocated to repaying $16.8 million in mortgage debt, with remaining funds earmarked for various corporate purposes, including potential reinvestment or share repurchase.

On May 5, 2022, City Office REIT reported Q1 2022 results, highlighting rental revenues of $44.9 million and net income of $22.7 million, or $0.51 per diluted share. Core FFO was $17.6 million ($0.40/share), while AFFO stood at $8.3 million ($0.19/share). The company agreed to sell Lake Vista Pointe for $43.8 million, anticipating a $22 million gain. However, Same Store Cash NOI fell 4.7% year-over-year, and portfolio occupancy was 85.7%, impacted by acquisitions. The company declared a dividend of $0.20 per common share, paid on April 22, 2022.

City Office REIT (CIO) is set to release its financial results for Q1 2022 on May 5, 2022, before market opening. A conference call is scheduled for 11:00 am ET on the same day to discuss the results, with a supplemental financial package available on their website. City Office focuses on acquiring and operating quality office properties in key U.S. markets, currently owning or controlling 6.2 million square feet of office space, and has opted for REIT taxation.

City Office REIT (NYSE: CIO) declared a quarterly dividend of $0.20 per common share for Q1 2022, payable on April 22, 2022, to shareholders on record as of April 8, 2022. Additionally, a dividend of $0.4140625 per share for its 6.625% Series A Cumulative Redeemable Preferred Stock was authorized. The company, which manages high-quality office properties across the Southern and Western U.S., owns approximately 6.2 million square feet of real estate. This announcement reflects the company's ongoing commitment to returning value to its investors.

City Office REIT (NYSE: CIO) reported strong financial results for Q4 2021, with rental revenues of $39.7 million and a GAAP net income of $431.2 million, or $9.76 per share. Key highlights include the sale of Sorrento Mesa for $576 million, generating a gain of $429.3 million, and the acquisition of premier properties worth $613.5 million in Raleigh, Phoenix, and Dallas. The company increased its dividend by 33.3% and announced an optimistic 2022 Core FFO guidance, expecting 16% growth over 2021. Portfolio occupancy was 84.9%, excluding new properties in lease-up phase.