Value investors, over the years, have preferred price-to-earnings ratio or P/E as a means to identify value stocks. However, in the case of loss-making companies that have a negative price-to-earnings ratio, the price-to-sales or P/S ratio is considered in determining their true value.However, the price-to-book ratio (P/B ratio), though used less often, is also an easy-to-use valuation tool for identifying low-priced stocks with great returns.The P/B ratio is calculated as below:P/B ratio = market capitaliz ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on ke ...

City Office REIT (CIO) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individual ...

CHICAGO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE: ODC) is proud to announce that Susan Kreh, the Company’s Chief Financial Officer and Chief Information Officer, has been named the recipient of the prestigious 2024 Financial Executives International (FEI) Chicago CFO of the Year Award. This award honors senior financial leaders who have made significant contributions to a business or non-profit in the Chicago area. Recipients are selected from a group of finalists, and awards ...

Investors interested in REIT and Equity Trust - Other stocks are likely familiar with City Office REIT (CIO) and Omega Healthcare Investors (OHI) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earning ...

| --- | --- | --- | |-------|-------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | I N V E S T O R P R E S E NTATION | | | | O C T O B E R 2 0 2 4 | | | | N Y S E: CIO | | FORWARD-LOOKING STATEMENTS This presentation contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and ...

City Office REIT, Inc. (NYSE:CIO) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Tony Maretic - Chief Financial Officer, Treasurer and Corporate Secretary Jamie Farrar - Chief Executive Officer Conference Call Participants Upal Rana - KeyBanc Capital Markets Barry Oxford - Colliers Craig Kucera - Lucid Capital Markets Operator Good morning. And welcome to the City Office REIT, Inc. Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen ...

City Office REIT (CIO) came out with quarterly funds from operations (FFO) of $0.27 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to FFO of $0.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -3.57%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.30 per share when it actually produced FFO of $0.28, delivering a surprise of -6.67%.Over the last four qu ...

Property Portfolio and Occupancy - As of September 30, 2024, the company owned 23 properties comprising 56 office buildings with a total of approximately 5.6 million square feet of net rentable area, with an occupancy rate of 83.4%[68] - The company reported that 13.0% of net rentable area was vacant as of September 30, 2024, a slight decrease from 13.7% a year earlier[72] - 2.3% of the company's leases are scheduled to expire over the remainder of the calendar year, without regard to renewal options[76] - As of September 30, 2024, approximately 16.7% of the net rentable area in the portfolio had early termination provisions, but no tenants exercised these provisions in 2024[76] - The company owned 23 properties with a total of approximately 5.6 million square feet of net rentable area (NRA) as of September 30, 2024[81] Financial Performance - For the three months ended September 30, 2024, total rental and other revenues decreased by $1.8 million, or 4%, to $42.4 million compared to $44.2 million for the same period in 2023[86] - Rental and other revenues decreased by $5.6 million, or 4%, to $129.2 million for the nine months ended September 30, 2024, from $134.8 million for the same period in 2023[92] - The company experienced a decrease in revenue at properties such as Intellicenter and 2525 McKinnon, attributed to lower occupancy rates[86] - The company reported a decrease in revenue due to the disposition of Cascade Station, which reduced revenue by $1.0 million[86] Operating Expenses - Total operating expenses increased by $0.3 million, or 1%, to $36.2 million for the three months ended September 30, 2024, from $35.9 million for the same period in 2023[88] - Property operating expenses increased by $0.2 million, or 1%, to $17.8 million for the three months ended September 30, 2024[88] - Total operating expenses decreased by $0.6 million, or 1%, to $108.8 million for the nine months ended September 30, 2024, from $109.4 million for the same period in 2023[93] - Property operating expenses increased by $0.4 million, or 1%, to $53.0 million for the nine months ended September 30, 2024, from $52.6 million for the same period in 2023[95] - General and administrative expenses increased by $0.3 million, or 7%, to $3.8 million for the three months ended September 30, 2024, compared to $3.5 million in the prior year period[89] Rental Rates and Tenant Retention - The average effective rent per square foot increased to $33.44, with new leasing at $33.91 and renewal leasing at $32.87[80] - The annualized average effective rent per square foot across all properties was $29.01[81] - The retention rate for tenants was reported at 42%[80] - The company aims to maintain or increase rental rates through rent escalation provisions in its leases, which are designed to provide annual growth in rental income[76] Economic and Market Conditions - The company has experienced slower new leasing activity due to evolving work-from-home trends, impacting anticipated rental revenues[73] - The company anticipates that the current economic environment, including inflation and interest rates, will continue to impact its operating activities and tenant demand[70] - The company anticipates continued positive population and economic growth in its Sun Belt markets, despite potential economic uncertainties[84] - The company focuses on acquiring office properties in growth markets predominantly in the Sun Belt, which are characterized by growing populations and above-average employment growth forecasts[75] - The company is actively evaluating business operations and strategies to adapt to current economic and industry conditions[75] Debt and Interest Rate Exposure - As of September 30, 2024, approximately $536.0 million, or 82.3%, of the company's debt had fixed interest rates, while $115.0 million, or 17.7%, had variable interest rates[121] - A 1% increase in SOFR would lead to a $1.2 million increase in annual interest costs on debt outstanding as of September 30, 2024[121] - Conversely, a 1% decrease in SOFR would result in a $1.2 million decrease in annual interest costs on debt outstanding as of September 30, 2024[121] - The company considers its interest rate exposure to be moderate due to the current capital structure[121] - The company utilizes derivative financial instruments to manage or hedge interest rate risks related to borrowings[120] - The fixed rate debt includes loans against which interest rate swaps have been applied, effectively fixing the SOFR component of borrowing rates[121] - Future debt issuances or borrowings under the Unsecured Credit Facility would incur increased interest costs with a 1% increase in SOFR[121] - The fair value of outstanding debt would decrease with a 1% increase in SOFR[121] - The company may take further actions to mitigate exposure to changes in interest rates, although specific actions and their effects are uncertain[122] - Interest rate risk estimates are based on hypothetical interest rates and do not account for changes in overall economic activity[122] Cash Flow and Financial Position - Net cash provided by operating activities increased by $1.8 million to $50.0 million for the nine months ended September 30, 2024, compared to $48.2 million for the same period in 2023[101] - Cash, cash equivalents, and restricted cash were $43.0 million as of September 30, 2024, down from $52.3 million as of September 30, 2023[100] - Depreciation and amortization decreased by $1.4 million, or 3%, to $44.4 million for the nine months ended September 30, 2024, from $45.8 million for the same period in 2023[97] - The company recognized a loss on deconsolidation of $1.5 million for the nine months ended September 30, 2024, compared to a loss of $0.1 million for the same period in 2023[99] - Net cash used in financing activities increased by $11.3 million to $20.6 million for the nine months ended September 30, 2024, compared to $9.3 million for the same period in 2023[104]

Exhibit 99.1 City Office REIT Reports Third Quarter 2024 Results VANCOUVER—October 31, 2024 —City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended September 30, 2024. Third Quarter Highlights • Rental and other revenues were $42.4 million. GAAP net loss attributable to common stockholders was approximately $4.5 million, or ($0.11) per fully diluted share; • Core FFO was approximately $11.1 million, or $0.27 per fully diluted share; ...