City Office REIT, Inc. Revises Earnings Guidance for the Full Year 2022
August 04, 2022 at 06:00 am EDT
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City Office REIT, Inc. revised earnings guidance for the full year 2022. The company is updating its 2022 guidance based on year-to-date performance and its expectations for the remainder of the year. The company now expects net operating income in the range of $111.5 million to $112.5 million, compared with previous guidance of 2022 net operating income of $113.0 million to $115.0 million.
2022 net operating income is also expected to be lower primarily due to the timing of certain leasing assumptions. Offsetting part of these impacts is the accretion generated from the share repurchase program.
City Office REIT, Inc. is an internally managed real estate company. The Company is focused on acquiring, owning and operating office properties located predominantly in the Sun Belt markets. The Company owns about 24 properties comprised of 58 office buildings with a total of approximately 5.7 million square feet of net rentable area (NRA) in the metropolitan areas of Dallas, Denver, Orlando, Phoenix, Portland, Raleigh, San Diego, Seattle and Tampa. The Company's properties include The Terraces, 2525 McKinnon, Block 23, Pima Center, Canyon Park, Mission City, AmberGlen, Cascade Station, Bloc 83, Greenwood Blvd, Central Fairwinds, Florida Research Park, Denver Tech, Circle Point, Superior Pointe, Carillon Point, Intellicenter, City Center, Park Tower, Papago Tech, The Quad, Camelback Square, 5090 N 40th St, and SanTan among others.
CITY OFFICE REIT, INC. 
