CIO Stock Overview
City Office REIT, Inc. (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States.
City Office REIT Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$13.03|
|52 Week High||US$21.70|
|52 Week Low||US$11.05|
|1 Month Change||2.12%|
|3 Month Change||-2.54%|
|1 Year Change||-1.14%|
|3 Year Change||0%|
|5 Year Change||3.00%|
|Change since IPO||5.08%|
Recent News & Updates
City Office REIT Q2 2022 Earnings Preview
City Office REIT (NYSE:CIO) is scheduled to announce Q2 earnings results on Thursday, August 4th, before market open. The consensus FFO Estimate is $0.04 (-88.6% Y/Y) and the consensus Revenue Estimate is $44.45M (+11.2% Y/Y). Over the last 3 months, FFO estimates have seen 0 upward revisions and 2 downward. Revenue estimates have seen 3 upward revisions and 2 downward.
|CIO||US REITs||US Market|
Return vs Industry: CIO exceeded the US REITs industry which returned -8% over the past year.
Return vs Market: CIO exceeded the US Market which returned -12.9% over the past year.
|CIO Average Weekly Movement||5.4%|
|REITs Industry Average Movement||4.4%|
|Market Average Movement||7.9%|
|10% most volatile stocks in US Market||17.1%|
|10% least volatile stocks in US Market||3.2%|
Stable Share Price: CIO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: CIO's weekly volatility (5%) has been stable over the past year.
About the Company
City Office REIT, Inc. (NYSE: CIO) invests in high-quality office properties in 18-hour cities with strong economic fundamentals, primarily in the Southern and Western United States. At September 30, 2020, CIO owned office complexes comprising 5.8 million square feet of net rentable area (“NRA”).
City Office REIT Fundamentals Summary
|CIO fundamental statistics|
Is CIO overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|CIO income statement (TTM)|
|Cost of Revenue||US$63.03m|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||10.92|
|Net Profit Margin||259.51%|
How did CIO perform over the long term?See historical performance and comparison
6.1%Current Dividend Yield
Is CIO undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 6/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for CIO?
Other financial metrics that can be useful for relative valuation.
|What is CIO's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does CIO's PE Ratio compare to its peers?
|CIO PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
FSP Franklin Street Properties
PDM Piedmont Office Realty Trust
BDN Brandywine Realty Trust
DEA Easterly Government Properties
CIO City Office REIT
Price-To-Earnings vs Peers: CIO is good value based on its Price-To-Earnings Ratio (1.2x) compared to the peer average (47.6x).
Price to Earnings Ratio vs Industry
How does CIO's PE Ratio compare vs other companies in the US REITs Industry?
Price-To-Earnings vs Industry: CIO is good value based on its Price-To-Earnings Ratio (1.2x) compared to the US REITs industry average (31.2x)
Price to Earnings Ratio vs Fair Ratio
What is CIO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||1.2x|
|Fair PE Ratio||9x|
Price-To-Earnings vs Fair Ratio: CIO is good value based on its Price-To-Earnings Ratio (1.2x) compared to the estimated Fair Price-To-Earnings Ratio (9x).
Share Price vs Fair Value
What is the Fair Price of CIO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: CIO ($13.03) is trading below our estimate of fair value ($26.64)
Significantly Below Fair Value: CIO is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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How is City Office REIT forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Future Growth Score0/6
Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CIO's earnings are forecast to decline over the next 3 years (-63.8% per year).
Earnings vs Market: CIO's earnings are forecast to decline over the next 3 years (-63.8% per year).
High Growth Earnings: CIO's earnings are forecast to decline over the next 3 years.
Revenue vs Market: CIO's revenue (4.1% per year) is forecast to grow slower than the US market (8% per year).
High Growth Revenue: CIO's revenue (4.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CIO's Return on Equity is forecast to be high in 3 years time
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How has City Office REIT performed over the past 5 years?
Past Performance Score5/6
Past Performance Score 5/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CIO has a high level of non-cash earnings.
Growing Profit Margin: CIO's current net profit margins are higher than last year (28.8%).
Past Earnings Growth Analysis
Earnings Trend: CIO has become profitable over the past 5 years, growing earnings by 78.5% per year.
Accelerating Growth: CIO's earnings growth over the past year (880%) exceeds its 5-year average (78.5% per year).
Earnings vs Industry: CIO earnings growth over the past year (880%) exceeded the REITs industry 45.8%.
Return on Equity
High ROE: CIO's Return on Equity (52.8%) is considered outstanding.
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How is City Office REIT's financial position?
Financial Health Score2/6
Financial Health Score 2/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: CIO's short term assets ($108.8M) exceed its short term liabilities ($33.4M).
Long Term Liabilities: CIO's short term assets ($108.8M) do not cover its long term liabilities ($701.9M).
Debt to Equity History and Analysis
Debt Level: CIO's net debt to equity ratio (71.5%) is considered high.
Reducing Debt: CIO's debt to equity ratio has reduced from 131.9% to 74.7% over the past 5 years.
Debt Coverage: CIO's debt is not well covered by operating cash flow (17.2%).
Interest Coverage: CIO's interest payments on its debt are not well covered by EBIT (1.6x coverage).
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What is City Office REIT current dividend yield, its reliability and sustainability?
Dividend Score 4/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CIO's dividend (6.14%) is higher than the bottom 25% of dividend payers in the US market (1.52%).
High Dividend: CIO's dividend (6.14%) is in the top 25% of dividend payers in the US market (4.1%)
Stability and Growth of Payments
Stable Dividend: CIO has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: CIO has only been paying a dividend for 8 years, and since then payments have fallen.
Earnings Payout to Shareholders
Earnings Coverage: With its reasonably low payout ratio (33.7%), CIO's dividend payments are well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its reasonably low cash payout ratio (29.6%), CIO's dividend payments are well covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jamie Farrar (46 yo)
Mr. James Thomas Farrar, also known as Jamie, serves as Chief Executive Officer and Director at City Office REIT Inc. since April 2014. He serves as a Co-Managing Partner at Clarity Real Estate. He has exp...
CEO Compensation Analysis
Compensation vs Market: Jamie's total compensation ($USD3.49M) is about average for companies of similar size in the US market ($USD2.70M).
Compensation vs Earnings: Jamie's compensation has increased by more than 20% in the past year.
Experienced Management: CIO's management team is seasoned and experienced (6.5 years average tenure).
Experienced Board: CIO's board of directors are considered experienced (8.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
City Office REIT, Inc.'s employee growth, exchange listings and data sources
- Name: City Office REIT, Inc.
- Ticker: CIO
- Exchange: NYSE
- Founded: 2013
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$541.694m
- Shares outstanding: 41.57m
- Website: https://www.cityofficereit.com
Number of Employees
- City Office REIT, Inc.
- 500 North Akard Street
- Suite 2960
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/08/08 00:00|
|End of Day Share Price||2022/08/08 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.