City Office REIT Inc reports results for the quarter ended in March - Earnings Summary

City Office REIT

03/05/2024 15:23

* City Office REIT Inc  CIO.N  reported a quarterly adjusted
loss
of 6 cents​​ per share for the quarter ended in March, lower
than the same quarter last year, when the company reported EPS
of -3 cents.  The mean expectation of two analysts for the
quarter was for a loss of 13 cents per share. 
    * Revenue fell 3.2% to $44.49 million from a year ago;
analysts
expected $43.35 million. 
    * City Office REIT Inc's reported EPS for the quarter was a
loss
of 6 cents​.
    * The company reported a quarterly loss of $2.44 million.
    * City Office REIT Inc shares had fallen by 8.6% this
quarter and
lost 22.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.6%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the commercial
reits
peer group is  "hold."

Wall Street's median 12-month price target for City Office REIT
Inc is $5.75 
This summary was machine generated from LSEG data May 3 at 02:23
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.31           0.33           Beat
 Dec. 31 2023      0.32           0.33           Beat
 Sep. 30 2023      0.32           0.34           Beat
 Jun. 30 2023      0.34           0.35           Beat