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City Office REIT (CIO)
NYSE:CIO
Earnings Data
Report Date
Jul 31, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-0.1Last Year’s EPS
-0.14Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 02, 2025
|% Change Since: -5.33%
|Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant achievements in redevelopment projects, positive leasing trends, and strong financial performance. Although there are expected short-term occupancy dips and potential disruptions due to redevelopment, the long-term outlook and strategic initiatives indicate a positive trajectory.Company Guidance
During the City Office REIT First Quarter 2025 Earnings Conference Call, the company provided guidance on several key metrics. They reported a net operating income of $26.0 million for the first quarter, which marked an increase of $500,000 from the previous quarter. Core FFO was $12.3 million, or $0.30 per share, up by $600,000 quarter-over-quarter. Additionally, the company's same-store cash NOI rose by 4.4% compared to the prior year, driven primarily by strong performance in Raleigh. Portfolio occupancy was reported at 84.9%, with expectations to end the year within the 85% to 87% range. The company has $646 million in total debt, with a net debt-to-EBITDA ratio of 6.7 times. They have $42 million undrawn on their credit facility and $37 million in cash and restricted cash as of quarter-end. The company is also working on strategic extensions for property debt maturities in 2025 and exploring financing options for unencumbered properties to enhance liquidity.Redevelopment of City Center Property
Entered into an agreement with Property Markets Group to lead the development of a 49-story residential condominium and mixed-use tower. The project is expected to be sold under the luxury Waldorf Astoria Residences brand and has tremendous long-term value creation potential.
Positive Trends in Office Real Estate
National office leasing volume was 15% higher than a year ago, with higher-quality office spaces in Sunbelt markets continuing to outperform. Company achieved significant leasing activity, including a 34,000 square foot lease at Papago Tech in Phoenix.
Successful Leasing Transactions
Negotiated a transaction to bring a new 66,000 square foot tenant into the Greenwood Boulevard property in Orlando with a 10-year lease, and extended the existing tenant's lease on 58,000 square feet to 2033.
Positive Financial Performance
First quarter net operating income was $26.0 million, $500,000 higher than the fourth quarter. Core FFO was $12.3 million, $600,000 higher than the previous quarter.
Strong Rent Growth
Realized an 8.5% positive cash releasing spread on renewals over the last 12 months. Same-store cash NOI increased 4.4% in the first quarter compared to the prior year.
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CIO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CIO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| May 02, 2025 | $5.25 | $4.97 | -5.33% |
| Feb 20, 2025 | $4.98 | $5.05 | +1.41% |
| Oct 31, 2024 | $5.17 | $4.91 | -5.03% |
| Aug 01, 2024 | $5.71 | $5.38 | -5.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does City Office REIT (CIO) report earnings?
City Office REIT (CIO) is schdueled to report earning on Jul 31, 2025, TBA Not Confirmed.
What is City Office REIT (CIO) earnings time?
City Office REIT (CIO) earnings time is at Jul 31, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CIO EPS forecast?
CIO EPS forecast for the fiscal quarter 2025 (Q2) is -0.1.
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