City Office REIT (NYSE: CIO) reported Q4 EPS of ($0.22), $0.12 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $34.17 million versus the consensus estimate of $34.2 million.

"We ended the year with a flourish of activity that we believe positions us very well headed into 2019," commented James Farrar, the Company's Chief Executive Officer. "Since our last earnings report, we have acquired $156 million of high-quality office properties, including a development site adjacent to one of our properties, with an additional $33 million under contract and pending closing. With these acquisitions, we have entered the long-targeted Seattle market and expanded our footprint in vibrant submarkets of Denver, Orlando, Phoenix and Portland."

"With our year end results, we also achieved key operational progress. We ended the year at 90.4% occupancy, a substantial improvement from the 87.7% at the end of the previous year. We also posted positive same store cash NOI growth in the fourth quarter, a trend that we expect to strengthen in 2019. Overall, we are pleased with our results and will continue to focus on leasing the remaining attractive blocks of space in our portfolio, growing earnings per share and unlocking value through strategic value-add programs and capital recycling."

For earnings history and earnings-related data on City Office REIT (CIO) click here.