Published on 4 May 2024 on GuruFocus.com via Yahoo Finance
City Office REIT Inc (CIO) First Quarter 2024 Earnings Overview
Revenue: Reported at $44.49 million for the first quarter of 2024, slightly above the estimated $43.35 million.Net Income: Registered a net loss of $454,000, outperforming against the estimated net loss of $3.96 million.Earnings Per Share (EPS): Recorded a loss of $0.06 per share, outperforming against the estimated loss of $0.13 per share.Occupancy Rate: Achieved 83.0% physical occupancy and 86.0% including signed leases not yet occupied as of March 31, 2024.Same Store Cash NOI: Experienced a decrease of 1.0% compared to the same period last year.Dividends: Declared a quarterly cash dividend of $0.10 per common share and $0.4140625 per share for 6.625% Series A Preferred Stock.Leasing Activity: Total leasing activity amounted to approximately 191,000 square feet, including 110,000 square feet of new leases.
Warning! GuruFocus has detected 5 Warning Signs with CIO.