Investor Presentaiton
APPENDIX: FINANCIAL HIGHLIGHTS
(in thousands, except per share data)
(unaudited)
CITY OFFICE REIT
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
INCOME ITEMS
Net income/(loss)
$
130
$
ΝΟΙ
$
26,570 $
(516)
27,358 $
$
873
$
(12,238)
$
2,164
28,237 $
27,610 $
28,110
Same Store Cash NOI Change
2.2%
7.5%
3.0%
(1.2%)
(4.3%)
Net (loss)/income per share - diluted
$
(0.05) $
Core FFO/Share
$
0.34 $
5969
(0.06) $
(0.03)
$
(0.36)
$
0.00
0.35
$
0.37
$
0.38
$
0.39
AFFO/Share
EBITDA (CIO share)
SS
$
0.15
$
23,610
SA S
$
0.18
$
$
24,270
SAS
0.20
$
0.12
$
0.18
$
25,062
$
24,952
$
25,177
CAPITALIZATION
Common shares
Unvested restricted shares
39,938
867
39,938
39,938
39,719
39,719
859
844
736
727
Total common shares - diluted
40,805
40,797
40,783
40,455
40,446
Weighted average common shares outstanding - diluted
40,803
40,793
40,702
40,502
42,125
Share price at quarter end
$
4.25
$
5.57 $
6.90
$
8.38
$
9.97
Market value of common equity
$
173,421
$
227,239
$
281,400
$
339,009
$
403,248
Total Series A preferred shares outstanding
4,480
Liquidation preference per preferred share
$
25.00
Aggregate liquidation preference of preferred shares
$
112,000 $
Net debt (CIO share)
$
616,351 $
Total enterprise value (including net debt)
$
901,772
SSS A
$
$
4,480
25.00 $ 25.00 $
112,000 $ 112,000 $
623,280
962,519
4,480
4,480
4,480
25.00 $
25.00
112,000 $
112,000
$ 654,088
$ 1,047,488
$ 643,567
$ 632,594
$ 1,094,576
$ 1,147,842
DEBT STATISTICS AND RATIOS
Total principal debt (CIO share)
Weighted average maturity
Weighted average interest rate
Fixed rate debt as a percentage of total debt¹
LEASING STATISTICS
In-Place occupancy
Weighted average remaining lease term
(1)
The fixed rate debt percentage includes the impact of interest rate swaps
$
667,724
$
675,088
$
2.8 years
2.8 years
705,498
3.0 years
$
687,168
3.2 years
$ 673,449
3.5 years
4.8%
4.6%
4.5%
4.4%
4.1%
91.1%
90.4%
92.2%
71.1%
72.8%
85.4%
85.6%
84.9%
86.2%
4.8 years
4.9 years
4.8 years
4.9 years
85.8%
5.0 years
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