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Mar 31, 2023
City Office Q1 2023 Earnings Report
Reported results for the quarter ended March 31, 2023.
Key Takeaways
City Office REIT reported rental and other revenues of $46.0 million for the first quarter of 2023. GAAP net loss attributable to common stockholders was approximately $1.2 million, or ($0.03) per fully diluted share. Core FFO was approximately $15.0 million, or $0.37 per fully diluted share, and AFFO was approximately $8.2 million, or $0.20 per fully diluted share. Same Store Cash NOI increased 3.0% as compared to the first quarter of 2022.
Rental and other revenues were $46.0 million.
GAAP net loss attributable to common stockholders was approximately $1.2 million, or ($0.03) per fully diluted share.
Core FFO was approximately $15.0 million, or $0.37 per fully diluted share.
Same Store Cash NOI increased 3.0% as compared to the first quarter of 2022.
City Office
City Office
Forward Guidance
Following City Office’s performance for the first quarter of 2023, the Company is reiterating the components of full year 2023 guidance provided in the Company’s fourth quarter 2022 earnings report.