tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

City Office REIT Sells Phoenix Properties for $266 Million

Story Highlights
City Office REIT Sells Phoenix Properties for $266 Million

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

City Office REIT ( (CIO) ) has issued an announcement.

On August 15, 2025, City Office REIT, Inc. completed the sale of six office properties in Phoenix, Arizona, for $266 million to an unaffiliated buyer, as part of a previously announced disposition plan. Concurrently, the company amended its credit agreement, reducing the revolving credit facility to $150 million and securing borrowings with certain assets. This strategic move aims to streamline operations and improve financial flexibility, potentially impacting the company’s market positioning and stakeholder interests.

The most recent analyst rating on (CIO) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on City Office REIT stock, see the CIO Stock Forecast page.

Spark’s Take on CIO Stock

According to Spark, TipRanks’ AI Analyst, CIO is a Neutral.

City Office REIT’s overall stock score reflects a mix of financial challenges and strategic opportunities. The company’s financial performance is a concern due to negative profitability and cash flow volatility. However, strong technical indicators and strategic corporate events, such as the merger and asset sale, provide a positive outlook. The earnings call further supports a favorable long-term trajectory despite short-term challenges.

To see Spark’s full report on CIO stock, click here.

More about City Office REIT

City Office REIT, Inc. operates in the real estate investment trust (REIT) industry, focusing on acquiring, owning, and operating office properties in the United States. The company primarily invests in high-quality office buildings located in metropolitan areas with strong economic fundamentals.

Average Trading Volume: 459,182

Technical Sentiment Signal: Buy

Current Market Cap: $279.7M

For detailed information about CIO stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1