I Went Heavy On Buying City Office REIT's 9.7% Yielding Preferreds [Seeking Alpha]
City Office REIT, Inc. (CIO)
NASDAQ:AMEX Investor Relations:
cityofficereit.com
Company Research
Source: Seeking Alpha
The REIT's lease expirations and debt maturities are well managed, reducing credit risk for the preferreds. The preferreds are currently trading at a discount to their liquidation value and stand to benefit from future Fed rate cuts. City Office REIT's ( NYSE: CIO ) preferreds ( NYSE: CIO.PR.A ) are a buy and I've taken a significant position after first considering the commons when I last covered the internally managed office REIT. While rising office vacancies across the US will continue to form a fundamental headwind for office owners, CIO's fiscal 2023 fourth quarter occupancy rate at 84.5% remains healthy albeit dipping by roughly 90 basis points sequentially. Critically, the dip was mainly led by a single submarket as Portland, Oregon saw occupancy dip to 79% from 100% due to 70,000 square feet of lease expirations. CIO saw occupancy grow or stay constant across 7 other submarkets with a marginal dip recorded in Raleigh. Why are the preferreds so safe? The REIT generated
Show less
Read more
Impact Snapshot
Event Time:
CIO
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CIO alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CIO alerts
High impacting City Office REIT, Inc. news events
Weekly update
A roundup of the hottest topics
CIO
News
- City Office REIT, Inc. (NYSE: CIO) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- City Office REIT Announces First Quarter 2024 Earnings Release and Conference Call [Yahoo! Finance]Yahoo! Finance
- City Office REIT Announces First Quarter 2024 Earnings Release and Conference CallPR Newswire
- City Office REIT, Inc. (NYSE: CIO) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- City Office REIT, Inc. (NYSE: CIO) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
CIO
Earnings
- 2/22/24 - Miss
CIO
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- CIO's page on the SEC website