Company Quick10K Filing
City Office REIT
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 40 $491
10-K 2020-02-26 Annual: 2019-12-31
10-Q 2019-11-01 Quarter: 2019-09-30
10-Q 2019-08-01 Quarter: 2019-06-30
10-Q 2019-05-06 Quarter: 2019-03-31
10-K 2019-02-27 Annual: 2018-12-31
10-Q 2018-11-01 Quarter: 2018-09-30
10-Q 2018-08-02 Quarter: 2018-06-30
10-Q 2018-05-04 Quarter: 2018-03-31
10-K 2018-03-01 Annual: 2017-12-31
10-Q 2017-11-07 Quarter: 2017-09-30
10-Q 2017-08-04 Quarter: 2017-06-30
10-Q 2017-05-05 Quarter: 2017-03-31
10-K 2017-03-03 Annual: 2016-12-31
10-Q 2016-11-07 Quarter: 2016-09-30
10-Q 2016-08-04 Quarter: 2016-06-30
10-Q 2016-05-05 Quarter: 2016-03-31
10-K 2016-03-04 Annual: 2015-12-31
10-Q 2015-11-06 Quarter: 2015-09-30
10-Q 2015-08-07 Quarter: 2015-06-30
10-Q 2015-05-08 Quarter: 2015-03-31
10-K 2015-03-24 Annual: 2014-12-31
10-Q 2014-11-14 Quarter: 2014-09-30
10-Q 2014-08-14 Quarter: 2014-06-30
10-Q 2014-05-23 Quarter: 2014-03-31
8-K 2020-02-26 Earnings, Officers, Exhibits
8-K 2020-02-26 Enter Agreement, Exhibits
8-K 2020-01-27 Officers, Exhibits
8-K 2019-11-01 Earnings, Exhibits
8-K 2019-10-02 Enter Agreement, Exhibits
8-K 2019-10-02 Other Events
8-K 2019-08-01 Earnings, Exhibits
8-K 2019-05-03 Earnings, Exhibits
8-K 2019-05-02 Shareholder Vote, Exhibits
8-K 2019-03-07 Officers, Exhibits
8-K 2019-02-27 Earnings, Exhibits
8-K 2018-11-01 Enter Agreement, Exhibits
8-K 2018-11-01 Earnings, Exhibits
8-K 2018-08-02 Earnings, Exhibits
8-K 2018-05-04 Earnings, Exhibits
8-K 2018-05-03 Shareholder Vote
8-K 2018-03-15 Enter Agreement, Leave Agreement, Off-BS Arrangement, Exhibits
8-K 2018-03-02 Officers, Exhibits
8-K 2018-03-01 Earnings
8-K 2018-02-01 Officers, Exhibits

City Office REIT Financials

CIO Metrics, Comps, Filings

Annual | Quarterly

Business

We are an internally-managed corporation organized in the state of Maryland on November 26, 2013 focused on acquiring, owning and operating high-quality office properties located in "18-hour cities" in the Southern and Western United States. Our target markets possess a number of attractive demographic and employment characteristics that we believe will lead to capital appreciation and growth in rental income at our properties. Our senior management team has extensive industry relationships and a proven track record in executing this strategy, which we believe provides a competitive advantage to our stockholders. We have elected, and intend to continue to qualify, to be taxed as a REIT for U.S. federal income tax purposes.

We believe that our target markets offer the opportunity for attractive risk-adjusted returns due to the following characteristics: favorable economic growth trends, growing populations with above average employment growth forecasts, a large number of government offices, large international, national and regional employers across diversified industries, low-cost centers for business operations, proximity to large universities and increasing office occupancy rates. We also believe that new construction of office properties has been limited in many of our markets since 2008 because rental rates in these markets generally have not supported significant new development. Within our target markets, we focus primarily on Class A and B properties with a purchase price between $25 million and $100 million and expected capitalization rates generally between seven and eight percent. We believe that we have a competitive advantage in acquiring these properties in our target markets because large institutional investors generally have focused on larger properties in gateway markets such as Boston, Chicago, Los Angeles, New York, San Francisco and Washington, D.C., while local real estate operators in our markets typically do not benefit from the same access to capital as public REITs.

Our senior management team has extensive experience in real estate markets and is made up of James Farrar, our chief executive officer, Gregory Tylee, our president and chief operating officer, and Anthony Maretic, our chief financial officer, each with over 20 years of experience. We internally asset manage our properties but use local firms for property management and leasing in our markets to benefit from their local market knowledge, efficient operations and existing infrastructure.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Hersha Hospitality Trust (HT) 577 0% 10.7 0% 2,139 1,250 397 0 1 115 1,231
Capstead Mortgage (CMO) 723 5.0 -1% 11,535 10,463 0 0 -68 132 655
New Senior Investment Group (SNR) 593 0% 39.7 -4% 2,204 1,912 468 0 -79 60 2,368
One Liberty Properties (OLP) 536 0% 11.6 2% 785 493 83 0 14 45 524
UMH Properties (UMH) 566 69% 8.4 2% 1,010 474 143 99 24 65 548
Western Asset Mortgage Capital (WMC) 533 2.3 1% 5,254 4,690 0 0 41 196 446
Whitestone REIT (WSR) 573 21% 21.0 2% 1,012 679 119 26 17 57 1,190
Corenergy Infrastructure Trust (CORR) 632 93% 15.6 2% 656 180 87 81 15 43 672
City Office REIT (CIO) 678 0% 21.8 -1% 1,190 722 151 0 -7 60 1,302
Pennsylvania REIT (PEI) 447 39% 6.1 -3% 2,334 1,872 248 98 -74 71 429
Jernigan Capital (JCAP) 440 0% 6.8 8% 776 187 43 0 60 69 474
Great Ajax (AJX) 430 4.7 2% 1,554 1,196 0 0 30 80 372
Ares Commercial Real Estate (ACRE) 455 0% 28.7 2% 1,675 1,249 70 0 37 43 1,235
Dynex Capital (DX) 355 -2.2 -4% 5,487 4,903 0 0 -208 -100 216
Global Medical REIT (GMRE) 413 0% 10.5 2% 812 441 65 0 16 43 447
Anworth Mortgage Asset (ANH) 346 113.6 -3% 4,582 4,028 0 0 -121 6 691
Spirit Mta REIT (SMTA) 359 0% -15.5 -13% 2,013 2,037 169 0 -265 -143 2,213
MedEquities Realty Trust (MRT) 350 0% 17.7 1% 643 295 57 0 5 35 617
Orchid Island Capital (ORC) 364 -7.8 -0% 4,253 3,861 0 0 -21 -21 162
Farmland Partners (FPI) 197 0% 20.2 1% 1,097 526 53 0 14 35 702

Balance Sheet ($MM)2014-12-312015-12-312016-12-312017-12-312018-12-31
Cash1115162317
Accounts Receivable814172026
Inventory
PP&E212355550728935
Assets3024446618961,100
Accounts Payable
Long-Term Debt190345370490651
Liabilities210370405537702
Stockholders' Equity8066254360397
Income Statement ($MM)2014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue375572106129
Cost of Revenue
Gross Profit
R&D
SG&A12678
Tax
Net Income-5-80939
Cash Flow ($MM)2014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating814193742
Cash Investing-95-175-217-245-197
Cash Financing115135203207153