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CIO

City Office REIT, Inc.

CIO

City Office REIT, Inc. • NYSE
$6.81 ▲ 0.15% (+0.01)
Market Cap $274.88 M
52w High $7.01
52w Low $4.19
Dividend Yield 0.30%
P/E -2.12
Volume 163.56K
Outstanding Shares 40.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 ▼ $15.615M ▼ $-5.669M ▲ 0% ▲ $-0.14 ▲ $11.74M ▲
Q2-2025 $42.343M ▲ $122.619M ▲ $-105.366M ▼ -248.839% ▼ $-2.66 ▼ $-80.876M ▼
Q1-2025 $42.258M ▲ $18.853M ▼ $-1.67M ▲ -3.952% ▲ $-0.042 ▲ $21.904M ▲
Q4-2024 $41.919M ▼ $27.224M ▲ $-10.7M ▼ -25.525% ▼ $-0.31 ▼ $12.782M ▼
Q3-2024 $42.371M $18.432M $-2.639M -6.228% $-0.11 $20.493M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $21.347M ▲ $1.067B ▼ $456.78M ▼ $610.05M ▼
Q2-2025 $18.264M ▼ $1.328B ▼ $712.715M ▲ $614.938M ▼
Q1-2025 $21.997M ▲ $1.437B ▼ $709.985M ▼ $725.84M ▼
Q4-2024 $18.886M ▼ $1.456B ▼ $721.13M ▼ $733.855M ▼
Q3-2024 $25.911M $1.475B $727.715M $747.058M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $21.66M ▲ $0 ▼ $0 ▲ $0 ▲ $0 ▲ $0 ▼
Q2-2025 $-105.309M ▼ $13.301M ▲ $-10.224M ▼ $-5.193M ▲ $-2.116M ▼ $13.301M ▲
Q1-2025 $-1.499M ▲ $12.078M ▲ $-1.268M ▲ $-8.152M ▼ $2.658M ▲ $12.078M ▲
Q4-2024 $-10.557M ▼ $8.884M ▼ $-10.534M ▲ $-7.42M ▲ $-9.07M ▼ $8.884M ▼
Q3-2024 $-2.487M $18.278M $-11.063M $-7.528M $-313K $18.278M

Five-Year Company Overview

Income Statement

Income Statement Revenue from the office portfolio has been fairly steady over the past several years, with modest improvement in underlying operating profitability but no clear growth surge. Day‑to‑day property operations appear generally efficient, yet bottom‑line results are very volatile, driven by one‑off gains and losses from transactions rather than stable recurring profit. The standout spike in profit a few years ago looks deal‑related, not repeatable, and the more recent return to a loss signals ongoing pressure from the weak office environment and higher costs. Overall, the income statement reflects a portfolio that can cover its basic operating expenses but has limited earnings cushion in a tough market.

Balance Sheet

Balance Sheet The balance sheet shows a reasonably sized asset base that has been broadly stable, but with only modest growth in owners’ equity over time and some recent softening. Debt remains significant, though it has been nudged down from its prior peak, which helps de‑risk the structure but still leaves leverage as a central consideration for an office REIT. Cash on hand is relatively thin, implying reliance on property cash flows, credit facilities, and asset sales to manage obligations and fund any repositioning. In short, the balance sheet is workable but not especially conservative, and sensitive to property values, occupancy, and refinancing conditions.

Cash Flow

Cash Flow Cash flow from operations has been steady and reasonably predictable, reflecting recurring rent collections despite sector headwinds. Free cash flow is close to operating cash flow because capital spending has been kept lean, suggesting a focus on maintaining and selectively upgrading existing properties rather than heavy development. This supports ongoing obligations, but it also means the company has limited internal capacity for large, self‑funded growth projects. The cash flow profile is resilient enough for routine needs yet exposed to shocks such as major tenant move‑outs or refinancing at higher interest rates.

Competitive Edge

Competitive Edge City Office REIT competes by focusing on growth‑oriented Sun Belt and Western markets rather than crowded coastal gateways. That geographic concentration in business‑friendly, lower‑cost cities gives it exposure to population and job growth, corporate relocations, and comparatively healthier office demand. The company adds value through active asset management—renovating buildings, upgrading amenities, and maintaining a pipeline of move‑in‑ready suites—which helps it win and retain tenants in a challenging office market. However, it still operates in a structurally pressured asset class where remote and hybrid work weigh on long‑term demand, and where many landlords are fighting for a limited pool of high‑quality tenants.

Innovation and R&D

Innovation and R&D Although it does not invest in research and development in the traditional sense, City Office REIT has leaned into practical, off‑the‑shelf innovations. It is adopting smart‑building and AI‑driven property management tools to cut operating costs, respond faster to tenant issues, and anticipate maintenance needs. Its push for green certifications and portfolio‑level tracking of energy and emissions aligns with rising tenant and investor expectations around sustainability. Combined with targeted redevelopment and its strategy of pre‑built, ready‑to‑lease suites, the company is using technology and design to differentiate its properties. These steps are incremental rather than disruptive, but they position the portfolio comparatively well within the office REIT peer set, especially if new private owners commit more capital to proptech and redevelopment.

Summary

City Office REIT’s story is of a focused Sun Belt office owner navigating a difficult sector with stable revenues, tight cost control, and active asset management, but with thin profit margins and noticeable earnings volatility. The balance sheet and cash flows are adequate for current operations yet leave limited room for error if office fundamentals worsen or financing stays expensive. Its competitive edge comes from location choices, hands‑on property upgrades, and increasingly tech‑enabled management, all of which help in winning tenants but do not fully offset structural headwinds in office. The pending acquisition and privatization are likely to reshape its capital structure and strategic options; until then, the key variables to monitor conceptually are leasing trends in its markets, tenant retention, and the pace and terms of any debt refinancing or asset recycling.

NEWS

October 30, 2025 · 4:30 PM UTC

Bank of the James Announces CFO–CIO Transition and Appointment of New Chief Financial Officer

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October 16, 2025 · 5:00 PM UTC

City Office REIT Stockholders Approve Merger

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October 9, 2025 · 8:53 AM UTC

AlphaTON Capital CIO and Executive Chairman Enzo Villani Featured in Live Interview at Nasdaq MarketSite with IPO Edge

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October 7, 2025 · 6:00 PM UTC

Oksenholt Capital Slams City Office REIT's “Lowball” Elliott Capital Offer, Calls for New Leadership and Strategic Restructuring

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September 15, 2025 · 4:05 PM UTC

City Office REIT Announces Preferred Stock Dividends for Third Quarter 2025

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