City Office REIT (NYSE: CIO) reported Q3 EPS of ($0.08), in-line with the analyst estimate of ($0.08). Revenue for the quarter came in at $33.55 million versus the consensus estimate of $32.94 million.

"Underlying real estate fundamentals in our markets remain strong across the board. All of our markets have experienced positive net absorption of office space year-to-date and average rental rates continue to trend upward at a moderate pace," commented James Farrar, the Company's Chief Executive Officer.

"Our focus for the remainder of the year will be converting these market conditions into leasing the larger, attractive blocks of vacant space in our portfolio. In addition, acquisition activity in our markets remains very strong, which has resulted in a slower pace of conversions from our pipeline. Nonetheless, we continue to strictly adhere to our disciplined underwriting of acquisition opportunities and are confident that our robust pipeline will result in accretive acquisitions as we deploy the balance of our acquisition capital."

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