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Jun 30, 2024
City Office Q2 2024 Earnings Report
City Office REIT reported mixed results for Q2 2024. Revenue decreased slightly, while strategic leasing and debt renewals were successfully executed.
Key Takeaways
City Office REIT reported a decrease in rental and other revenues to $42.3 million. The company experienced a net loss of $5.6 million, or ($0.14) per share. However, they achieved strong leasing activity and successfully renewed key property loans.
Rental and other revenues totaled $42.3 million.
GAAP net loss attributable to common stockholders was $5.6 million, or ($0.14) per fully diluted share.
Core FFO was approximately $11.5 million, or $0.28 per fully diluted share.
In-place occupancy was 83.0%, or 87.3% including signed leases not yet occupied.
City Office
City Office
Forward Guidance
The Company is reiterating the components of full year 2024 guidance provided in the Company’s first quarter 2024 earnings press release.