City Office REIT Posts Wider Loss In Q1; Lowers 2024 Core FFO Per Share Guidance

(RTTNews) - City Office REIT, Inc. (CIO) reported first-quarter FFO attributable to common stockholders of $12.47 million or $0.30 per share. Core FFO was approximately $13.5 million, or $0.33 per share. AFFO was approximately $9.1 million, or $0.22 per share, for the quarter.

Net loss attributable to common stockholders was $2.4 million compared to a loss of $1.15 million, last year. Net loss per share was $0.06 compared to a loss of $0.03.

Analysts polled by Thomson Reuters expected the company to report a loss per share of $0.13, for the quarter. Analysts' estimates typically exclude special items.

Rental and other revenues declined to $44.49 million from $45.96 million, previous year. Analysts on average had estimated $43.35 million in revenue.

For full year 2024, the company expects core FFO per common share in a range of $1.14 to $1.18. Previous guidance was a range of $1.18 to $1.22.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.