City Office REIT: Q4 Earnings Snapshot

Associated Press Finance
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VANCOUVER, British Columbia (AP) — VANCOUVER, British Columbia (AP) — City Office REIT Inc. (CIO) on Thursday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Vancouver, British Columbia, said it had funds from operations of $13.5 million, or 33 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $4.5 million, or 11 cents per share.

The real estate investment trust, based in Vancouver, British Columbia, posted revenue of $44.3 million in the period.

For the year, the company reported funds from operations of $56.5 million. Revenue was reported as $179.1 million.

City Office REIT expects full-year funds from operations in the range of $1.18 to $1.22 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIO at https://www.zacks.com/ap/CIO

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