NYSE$CIO
City Office REIT Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported first quarter results, demonstrating portfolio strength amidst COVID-19 challenges.
City Office REIT reported a GAAP net loss attributable to common stockholders of approximately $1.0 million, or ($0.02) per fully diluted share for the first quarter of 2020. Despite the uncertain operating environment, Same Store Cash NOI increased by 4.1% compared to the first quarter of 2019, and in-place occupancy closed the quarter at 92.2%.
- GAAP net loss attributable to common stockholders was approximately $1.0 million, or ($0.02) per fully diluted share.
- Core FFO was approximately $14.3 million, or $0.26 per fully diluted share.
- AFFO was approximately $7.9 million, or $0.14 per fully diluted share.
- Same Store Cash NOI increased 4.1% as compared to the first quarter of 2019.
Headline financials
Revenue & EPS history
City Office · Revenue · Quarterly
$40.1M
Forward guidance
The Company is updating its full year 2020 guidance based on year-to-date performance and its expectations for the remainder of the year.
Tailwinds
- Lower interest expense.
- Lower expected weighted average fully diluted shares outstanding due to the share repurchase program.
Headwinds
- 2020 Core FFO per diluted share expectations were lowered by eliminating anticipated acquisition activity.
- 2020 Core FFO per diluted share expectations were lowered by removing future leasing assumptions for vacant space.
- 2020 Core FFO per diluted share expectations were lowered by establishing a provision for uncollectible rents associated with the anticipated impacts of COVID-19.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports
-1.4%
Avg return
Earnings day
-3.9%
Avg return
5 days after
+0.4%
Avg return
30 days after
35%
15 / 43 earnings
Positive
+12.0%
Q1 2020
Best reaction
-13.1%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q3 2025 | +0.0% | +0.3% | +0.4% | |
| Q2 2025 | +0.1% | +0.7% | +0.1% | |
| Q1 2025 | -5.3% | -6.7% | -6.7% | |
| Q4 2025 | +1.4% | -2.2% | -0.6% | |
| Q3 2024 | -5.8% | -2.2% | +6.5% | |
| Q2 2024 | -9.8% | -10.6% | -3.5% | |
| Q1 2024 | +2.3% | +0.6% | +3.4% | |
| Q4 2023 | -4.5% | -11.6% | +3.4% | |
| Q3 2023 | +5.1% | — | — | |
| Q2 2023 | -1.5% | — | — | |
| Q1 2023 | -13.1% | — | — | |
| Q4 2022 | -2.3% | — | — | |
| Q3 2022 | -9.1% | — | — | |
| Q2 2022 | -6.2% | — | — | |
| Q1 2022 | -7.0% | — | — | |
| Q4 2021 | -0.6% | — | — | |
| Q3 2021 | -4.3% | — | — | |
| Q2 2021 | +4.7% | — | — | |
| Q1 2021 | -2.8% | — | — | |
| Q4 2020 | -8.2% | — | — | |
| Q3 2020 | -0.5% | — | — | |
| Q2 2020 | +6.5% | — | — | |
| Q1 2020 | +12.0% | — | — | |
| Q4 2019 | -8.5% | — | — | |
| Q3 2019 | -0.7% | — | — | |
| Q2 2019 | +2.2% | — | — | |
| Q1 2019 | +4.0% | — | — | |
| Q4 2018 | -9.4% | — | — | |
| Q3 2018 | -3.3% | — | — | |
| Q2 2018 | -0.3% | — | — | |
| Q1 2018 | +1.1% | — | — | |
| Q4 2017 | +6.8% | — | — | |
| Q3 2017 | -2.0% | — | — | |
| Q2 2017 | -0.2% | — | — | |
| Q1 2017 | +1.8% | — | — | |
| Q4 2016 | -2.9% | — | — | |
| Q3 2016 | +4.2% | — | — | |
| Q2 2016 | -0.4% | — | — | |
| Q1 2016 | +2.0% | — | — | |
| Q4 2015 | -1.2% | — | — | |
| Q3 2015 | -4.8% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — |
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