NYSE$CIO

City Office REIT Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Reported results for the quarter and full year ended December 31, 2019.

City Office REIT reported GAAP net income attributable to common stockholders of approximately $1.0 million, or $0.02 per fully diluted share. Core FFO was approximately $13.4 million, or $0.25 per fully diluted share, and AFFO was approximately $7.9 million, or $0.14 per fully diluted share.

  • GAAP net income attributable to common stockholders was approximately $1.0 million, or $0.02 per fully diluted share.
  • Core FFO was approximately $13.4 million, or $0.25 per fully diluted share.
  • AFFO was approximately $7.9 million, or $0.14 per fully diluted share.
  • In-place occupancy closed the quarter at 91.9%, with approximately 331,000 square feet of new and renewal leases executed during the quarter.

Headline financials

Total Revenue

$39.1M

Previous: $34.2M+14.3%
EPS (adj)

$0.25

Previous: $0.26-3.8%
Same Store Cash NOI Growth

3.9%

No prior period
In-Place Occupancy

91.9%

No prior period
Net Income

$2.99M

Previous: -$6.8M+143.9%
Operating Income

$6.77M

Previous: -$227K+3080.6%
Gross Profit

$39.1M

Previous: $34.2M+14.3%
Cash & Equivalents

$70.1M

Previous: $16.1M+334.6%
Total Assets

$1.23B

Previous: $1.1B+11.6%
Stock-Based Comp

$432K

Previous: $355K+21.7%

Revenue & EPS history

City Office · Revenue · Quarterly

$39.1M

Q4 2019+14.3%vs Q4 2018
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Forward guidance

For full year 2020, the Company expects Core FFO in the range of $1.13 to $1.18 per diluted share based on current plans and assumptions and subject to the risks and uncertainties more fully described in the Company’s filings with the United States Securities and Exchange Commission.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 7 quarterly earnings reports

Historical avg

-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

Earnings price reactions
QuarterReport dateReaction (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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