City Office REIT (CIO) Misses Q4 EPS by 1c

City Office REIT (NYSE: CIO) reported Q4 EPS of ($0.09), $0.01 worse than the analyst estimate of ($0.08).

• GAAP net loss attributable to common stockholders was approximately $2.9 million, or ($0.09) per fully diluted share, Core FFO was approximately $9.6 million, or $0.31 per fully diluted share, and AFFO was approximately $6.6 million, or $0.21 per fully diluted share;
• In-place occupancy closed the quarter at 88.5%, excluding assets held for sale; the Company executed approximately 278,000 square feet of new and renewal leases during the quarter;
• Same Store Cash NOI increased 4.1% for the full year 2017, as compared to the full year 2016;
• Raised total gross proceeds of $72.5 million in a public follow-on offering of 5,750,000 shares of common stock, including 750,000 shares issued pursuant to the full exercise of the underwriters\' overallotment option;
• Completed a $33.3 million acquisition (\"Papago Tech\") in Phoenix, Arizona\'s desirable Tempe submarket, bringing the total acquisitions closed in 2017 to $255 million;
• Completed a $47.0 million property financing for the Mission City property;
• Declared a fourth quarter dividend of $0.235 per share of common stock, paid on January 25, 2018; and
• Declared a fourth quarter dividend of $0.4140625 per share of Series A Preferred Stock, paid on January 25, 2018.

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

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