Shares in Centuria Office REIT (ASX:COF) tumbled by as much as 4.6% to A$1.355, marking the largest intraday percentage fall since March 22.

The drop took the stock to its lowest level since June 26.

Centuria Office REIT (ASX:COF) shifted from profit to loss in its FY23 declaration.

The company also reported an 11.3% fall in FY23 funds from operations (FFO), falling short of Jefferies' expectations.

Further, its FY24 distribution per unit was reported to be 10.7% lower than consensus estimates.

Analysts at Jefferies expressed caution towards suburban office markets, indicating potential headwinds from work-from-home trends.

The stock’s performance has suffered this year with a cumulative fall of 7.2% as of the recent closing.

Centuria Office REIT (ASX:COF) is a real estate trust that operates office properties.