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In the News
3 Risky Office REITs (Dumpster Fire Alert)
Some people make decent money dumpster diving, as seen in a Business Insider article about a couple who make up to $3,000 a month selling their trash treasures. The office REIT space is currently under tremendous pressure, reflected in the stock prices of three high-risk office plays: City Office REIT, Orion Office, and Net Lease Office Properties. These stocks offer value for investors willing to take on elevated risks, but caution is warranted due to the challenges facing the office real estate sector.
I Went Heavy On Buying City Office REIT's 9.7% Yielding Preferreds
City Office REIT's preferreds are a strong investment with a 9.7% yield on cost and the ability to cover annual preferred payments with core FFO generated in a single quarter. The REIT's lease expirations and debt maturities are well managed, reducing credit risk for the preferreds. The preferreds are currently trading at a discount to their liquidation value and stand to benefit from future Fed rate cuts.
City Office REIT (CIO) Q4 FFO Meet Estimates
City Office REIT (CIO) came out with quarterly funds from operations (FFO) of $0.33 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.38 per share a year ago.
City Office REIT: Deep Value Or 7.3% Dividend Yield Trap?
City Office REIT is trading at a nearly 70% discount to book value per share at the end of its most recent quarter. The Sun Belt office-focused REIT is currently paying out a 7.3% dividend yield after a series of cuts over the last few years. The quarterly distribution was 150% covered by adjusted FFO which dipped 3 cents year-over-year.
Sell Alert: The Slaughter Of Office REITs Is Just Beginning
Office REITs are facing challenges as the hybrid work model becomes more popular, leading to downsizing and increased vacancies. Major companies like Charles Schwab, Johnson & Johnson, Dropbox, and Microsoft have already downsized their office spaces. Office REITs like Boston Properties, Kilroy Realty, City Office REIT, and SL Green are experiencing negative cash spreads and declining occupancy rates, indicating more trouble ahead.
Top 12 REITs For The Next 12 Months
REITs are performing well and expected to continue to rise, with potential for a 45% increase in the next 2-3 years. If the Fed reduces the prime rate, REIT yields will become more competitive with bonds and treasuries. REIT balance sheets are in good condition, with low debt ratios and valuations coming back into the low end of their normal range.
Cash COWs: 11 High-Yield REITS With Very Safe Dividends
Some high-yielding REITs have unsafe dividends, leading to potential dividend cuts and decline in share value. This article provides a list of 11 cash COW REITs with safe dividends, including companies from the cannabis and office sectors. There is also a list of high-yield REITs with slightly more risk but still considered safe by the Seeking Alpha Quant Ratings system.
City Office REIT: A De-Risked 10% Preferred Yield
Since the publication of my initial buy article City Office REIT's preferred shares have performed slightly better than CIO's equity, registering a more balanced ride and a 7% total return. The company's ample liquidity, strong cash retention, and improving fundamentals were the initial factors behind the buy rating for the preferred shares. The most recent Q3 results entail mixed signals. The underlying FFO and occupancy ratio declined and the struggles with WeWork could inflict further damage down the road.
Buried Treasures: 10 Dramatically Undervalued REITs Yielding Over 5%
REITs have experienced a significant drop in value due to rising interest rates and inflation. However, with inflation under control and interest rates expected to stabilize or decrease, REITs are poised for a surge. A list of 28 undervalued REITs with a yield of 5% or better is provided, along with 10 additional REITs to consider.
City Office REIT: Fortune Favors The Brave
City Office has been left for dead in the unloved REIT sector during late 2023, despite solid FFO generation and a stable future. The valuation setup is at all-time lows on work-from-home fears for office property demand, and rising long-term interest rates. A technical oversold condition, lack of volume selling to confirm new price lows in October, and a large price gain last week on light volume, make the bullish argument.
CIO Financial details
CIO Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2023-12-31
Metric | History | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | 3.61 | 3.41 | 3.77 | 4.29 | 4.49 | |
Net income per share | -0.62 | -0.46 | 11.14 | 0.6 | -0.07 | |
Operating cash flow per share | 1.14 | 1.27 | 1.68 | 2.54 | 1.43 | |
Free cash flow per share | 1.05 | 1.1 | 1.5 | 2.31 | 1.31 | |
Cash per share | 1.64 | 0.54 | 0.49 | 0.67 | 0.75 | |
Book value per share | 12.67 | 8.83 | 19.99 | 19.09 | 19.34 | |
Tangible book value per share | 11.14 | 7.91 | 18.43 | 17.78 | 18.29 | |
Share holders equity per share | 12.67 | 8.83 | 19.99 | 19.09 | 19.34 | |
Interest debt per share | 14.84 | 14.9 | 18.83 | 21.79 | 17.57 | |
Market cap | 584.69M | 461.37M | 857.78M | 352.4M | 243.92M | |
Enterprise value | 1.12B | 1.11B | 1.49B | 1.21B | 883.35M | |
P/E ratio | -21.98 | -21.13 | 1.77 | 13.98 | -90.95 | |
Price to sales ratio | 3.74 | 2.87 | 5.23 | 1.95 | 1.36 | |
POCF ratio | 11.81 | 7.7 | 11.71 | 3.3 | 4.26 | |
PFCF ratio | 12.83 | 8.85 | 13.19 | 3.63 | 4.65 | |
P/B Ratio | 1.07 | 1.11 | 0.99 | 0.44 | 0.32 | |
PTB ratio | 1.07 | 1.11 | 0.99 | 0.44 | 0.32 | |
EV to sales | 7.18 | 6.92 | 9.08 | 6.73 | 4.93 | |
Enterprise value over EBITDA | 12.96 | 12.3 | 16.7 | 12.43 | 9.5 | |
EV to operating cash flow | 22.66 | 18.58 | 20.35 | 11.39 | 15.44 | |
EV to free cash flow | 24.62 | 21.36 | 22.91 | 12.51 | 16.85 | |
Earnings yield | -0.05 | -0.05 | 0.56 | 0.07 | -0.01 | |
Free cash flow yield | 0.08 | 0.11 | 0.08 | 0.28 | 0.21 | |
Debt to equity | 1.12 | 1.62 | 0.91 | 1.11 | 0.87 | |
Debt to assets | 0.5 | 0.59 | 0.5 | 0.57 | 0.44 | |
Net debt to EBITDA | 6.2 | 7.2 | 7.09 | 8.82 | 6.88 | |
Current ratio | 3.5 | 1.15 | 1.88 | 1.98 | 0.41 | |
Interest coverage | 1.01 | 1.19 | 1.43 | 1.37 | 0.98 | |
Income quality | 20.27 | 11.68 | 0.15 | 6.28 | -28.12 | |
Dividend Yield | 0.08 | 0.09 | 0.04 | 0.12 | 0.13 | |
Payout ratio | -1.81 | -1.89 | 0.07 | 1.64 | -11.68 | |
Sales general and administrative to revenue | 0.07 | 0.07 | 0.09 | 0.08 | 0.08 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0.05 | 0.04 | 0.04 | 0.04 | 0.03 | |
Capex to operating cash flow | -0.08 | -0.13 | -0.11 | -0.09 | -0.08 | |
Capex to revenue | -0.03 | -0.05 | -0.05 | -0.05 | -0.03 | |
Capex to depreciation | -0.07 | -0.13 | -0.14 | -0.15 | -0.08 | |
Stock based compensation to revenue | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | |
Graham number | 13.24 | 9.58 | 70.78 | 16.05 | 5.41 | |
ROIC | -0.27 | -0.12 | 0.02 | 0.03 | 0.36 | |
Return on tangible assets | -0.02 | -0.02 | 0.32 | 0.02 | 0 | |
Graham Net | -13.52 | -13.06 | -14.71 | -15.63 | -15.37 | |
Working capital | 88.7M | 16.73M | 33.98M | 43.79M | -139.9M | |
Tangible asset value | 481.6M | 373.73M | 801.67M | 747.74M | 730.2M | |
Net current asset value | -555.19M | -614.44M | -658.24M | -682.57M | -641.9M | |
Invested capital | 1.12 | 1.62 | 0.91 | 1.11 | 0.87 | |
Average receivables | 29.1M | 32.54M | 31.69M | 37.42M | 48.94M | |
Average payables | 27.34M | 27.1M | 26.26M | 31.43M | 17.88M | |
Average inventory | -350K | 72.46M | 119.62M | 99.2M | 107.46M | |
Days sales outstanding | 74.99 | 74.82 | 67.68 | 89.85 | 108.94 | |
Days payables outstanding | 183.32 | 159.08 | 170.53 | 192.65 | 0 | |
Days of inventory on hand | -4.46 | 911.49 | 589.15 | 564.51 | 574.41 | |
Receivables turnover | 4.87 | 4.88 | 5.39 | 4.06 | 3.35 | |
Payables turnover | 1.99 | 2.29 | 2.14 | 1.89 | 0 | |
Inventory turnover | -81.88 | 0.4 | 0.62 | 0.65 | 0.64 | |
ROE | -0.05 | -0.05 | 0.56 | 0.03 | 0 | |
Capex per share | -0.09 | -0.16 | -0.19 | -0.23 | -0.12 |
Quarterly Fundamentals Overview
Last date of statement is 2023-12-31 for Q4
Metric | History | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | 1.15 | 1.2 | 1.12 | 1.16 | 1.11 | |
Net income per share | -0.31 | -0.51 | -0.02 | 0 | -0.07 | |
Operating cash flow per share | 0.25 | 0.36 | 0.34 | 0.54 | 0.23 | |
Free cash flow per share | 0.2 | 0.33 | 0.32 | 0.5 | 0.19 | |
Cash per share | 0.73 | 0.93 | 1.05 | 0.97 | 0.75 | |
Book value per share | 20.65 | 20.62 | 19.74 | 20.66 | 19.34 | |
Tangible book value per share | 19.24 | 19.26 | 18.5 | 19.42 | 18.29 | |
Share holders equity per share | 20.65 | 20.62 | 19.74 | 20.66 | 19.34 | |
Interest debt per share | 23.1 | 23.36 | 17.19 | 17.88 | 16.97 | |
Market cap | 325.75M | 264.73M | 222.45M | 161.33M | 243.92M | |
Enterprise value | 1.19B | 937.36M | 862.48M | 795.41M | 883.35M | |
P/E ratio | -6.84 | -3.4 | -81.78 | -937.97 | -22.9 | |
Price to sales ratio | 7.3 | 5.76 | 4.99 | 3.65 | 5.5 | |
POCF ratio | 34.2 | 19.07 | 16.24 | 7.84 | 26.94 | |
PFCF ratio | 42.54 | 20.61 | 17.37 | 8.47 | 31.57 | |
P/B Ratio | 0.41 | 0.33 | 0.28 | 0.21 | 0.32 | |
PTB ratio | 0.41 | 0.33 | 0.28 | 0.21 | 0.32 | |
EV to sales | 26.63 | 20.4 | 19.34 | 17.99 | 19.93 | |
Enterprise value over EBITDA | 49.3 | 38.3 | 36.87 | 35.03 | 38.85 | |
EV to operating cash flow | 124.74 | 67.52 | 62.96 | 38.64 | 97.56 | |
EV to free cash flow | 155.15 | 72.97 | 67.33 | 41.78 | 114.33 | |
Earnings yield | -0.04 | -0.07 | 0 | 0 | -0.01 | |
Free cash flow yield | 0.02 | 0.05 | 0.06 | 0.12 | 0.03 | |
Debt to equity | 1.11 | 1.14 | 0.86 | 0.86 | 0.87 | |
Debt to assets | 0.57 | 0.57 | 0.44 | 0.44 | 0.44 | |
Net debt to EBITDA | 35.78 | 27.49 | 27.36 | 27.93 | 28.12 | |
Current ratio | 1.98 | 2.17 | 0.42 | 0.42 | 0.41 | |
Interest coverage | 1.16 | -1.15 | 0.99 | 1.06 | 0.73 | |
Income quality | -0.77 | 19.72 | -26.55 | 158.35 | -3.59 | |
Dividend Yield | 0.03 | 0.04 | 0.04 | 0.04 | 0.02 | |
Payout ratio | -0.82 | -0.5 | -14.47 | -136.02 | -2.2 | |
Sales general and administrative to revenue | 0.07 | 0.08 | 0.08 | 0.08 | 0.09 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 | |
Capex to operating cash flow | -0.2 | -0.07 | -0.06 | -0.08 | -0.15 | |
Capex to revenue | -0.04 | -0.02 | -0.02 | -0.03 | -0.03 | |
Capex to depreciation | -0.12 | -0.07 | -0.06 | -0.11 | -0.08 | |
Stock based compensation to revenue | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | |
Graham number | 11.93 | 15.33 | 2.75 | 0.73 | 5.39 | |
ROIC | 0 | 0.09 | 0.09 | 0.1 | -0.03 | |
Return on tangible assets | -0.01 | -0.01 | 0 | 0 | 0 | |
Graham Net | -16.91 | -18.6 | -16.82 | -17.72 | -15.37 | |
Working capital | 43.79M | 53.42M | -142.67M | -142.32M | -139.9M | |
Tangible asset value | 747.74M | 738.83M | 739.01M | 737.16M | 730.2M | |
Net current asset value | -682.57M | -685.36M | -646.93M | -644.42M | -641.9M | |
Invested capital | 1.11 | 1.14 | 0.86 | 0.86 | 0.87 | |
Average receivables | 42.06M | 45.59M | 47.86M | 49.99M | 52.23M | |
Average payables | 36.92M | 32.64M | 30.08M | 34.28M | 18.97M | |
Average inventory | 50.98M | 52.38M | -1.86M | -1.86M | 55.08M | |
Days sales outstanding | 89.63 | 91.57 | 98.81 | 103.84 | 108.55 | |
Days payables outstanding | 189.25 | 149.97 | 159.82 | 193.53 | 0 | |
Days of inventory on hand | 554.55 | 0 | -19.44 | 0 | 570.2 | |
Receivables turnover | 1 | 0.98 | 0.91 | 0.87 | 0.83 | |
Payables turnover | 0.48 | 0.6 | 0.56 | 0.47 | 0 | |
Inventory turnover | 0.16 | 17.72M | -4.63 | 17.64M | 0.16 | |
ROE | -0.01 | -0.02 | 0 | 0 | 0 | |
Capex per share | -0.05 | -0.03 | -0.02 | -0.04 | -0.03 |
CIO Frequently Asked Questions
What is City Office REIT, Inc. stock symbol ?
City Office REIT, Inc. is a US stock , located in Dallas of Tx and trading under the symbol CIO
Is City Office REIT, Inc. buy or a sell ?
1 stock analysts have 1 predictions with a medium analyst target price of $15. The lowest prediction is $15 and the highest is $15
What is CIO stock prediction ?
What is City Office REIT, Inc. stock quote today ?
City Office REIT, Inc. stock price is $5.18 today.
Is City Office REIT, Inc. stock public?
Yes, City Office REIT, Inc. is a publicly traded company.