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Sep 30, 2020
City Office Q3 2020 Earnings Report
Reported strong results driven by significant leasing transactions, healthy rent collection, and the share repurchase program.
Key Takeaways
City Office REIT reported a GAAP net income of $1.0 million, or $0.02 per share, and collected over 99% of contractual base rent. Core FFO was $15.3 million, or $0.35 per share, and AFFO was $9.9 million, or $0.22 per share.
GAAP net income attributable to common stockholders was approximately $1.0 million, or $0.02 per fully diluted share.
Core FFO was approximately $15.3 million, or $0.35 per fully diluted share.
Collected over 99% of third quarter contractual base rent.
Executed approximately 189,000 square feet of new and renewal leases during the quarter.
City Office
City Office
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.