City Office REIT (CIO) Tops Q4 EPS by 3c

City Office REIT (NYSE: CIO) reported Q4 EPS of ($0.21), $0.03 better than the analyst estimate of ($0.24).

Fourth Quarter Highlights

• GAAP net loss attributable to common stockholders was approximately $5.1 million, or ($0.21) per fully diluted share, Core FFO was approximately $5.6 million, or $0.23 per fully diluted share, and AFFO was approximately $4.2 million, or $0.17 per fully diluted share;
• In-place occupancy closed the quarter at 91.0%; the Company executed approximately 177,000 square feet of new and renewal leases during the quarter;
• Same Store Cash NOI increased 5.1%, as compared to the fourth quarter 2015;
• Expanded the authorized borrowing capacity under the Secured Credit Facility from $75.0 to $100.0 million;
• Raised total gross proceeds of $112.0 million in a public offering of 4,480,000 shares of 6.625% Series A Cumulative Redeemable Preferred Stock (\"Series A Preferred Stock\"), including 480,000 shares issued pursuant to the exercise of the underwriters\' over-allotment option;
• Completed the acquisition of three Class A properties, consisting of 914,962 square feet, for $180.9 million in the aggregate;
• Declared a fourth quarter dividend of $0.235 per common share, paid on January 25, 2017; and
• Declared an initial prorated dividend of $0.50608 per Series A preferred share, paid on January 25, 2017.

For earnings history and earnings-related data on City Office REIT (CIO) click here.

You May Also Be Interested In

• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• SpaceX bond sale draws $89 billion in investor demand
• Citrini flags overheating concerns as leverage, chip rally weigh on KOSPI