VANCOUVER, British Columbia (AP) — VANCOUVER, British Columbia (AP) — City Office REIT Inc. (CIO) on Friday reported a key measure of profitability in its first 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 $2.4 million, or 6 cents per share.
The real estate investment trust, based in Vancouver, British Columbia, posted revenue of $44.5 million in the period.
City Office REIT expects full-year funds from operations in the range of $1.14 to $1.18 per share.
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