CIO
City Office REIT, Inc.
REIT - Office
Market Cap$282M
5Y Perf.-24.7%
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Stock Comparison
CIO vs PGRE
Revenue, margins, valuation, and 5-year total return — side by side.
PGRE
Paramount Group, Inc.
REIT - Office
Market Cap$1.46B
5Y Perf.-14.5%
CIO vs PGRE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CIO | PGRE |
|---|---|---|
| Industry | REIT - Office | REIT - Office |
| Market Cap | $282M | $1.46B |
| Revenue (TTM) | $164M | $723M |
| Net Income (TTM) | $-123M | $-97M |
| Gross Margin | 60.5% | 57.2% |
| Operating Margin | -53.1% | 14.7% |
| Total Debt | $647M | $3.68B |
| Cash & Equiv. | $19M | $375M |
CIO vs PGRE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CIO
PGRE
| Stock | May 20 | Jan 26 | Return |
|---|---|---|---|
| City Office REIT, I… (CIO) | 100 | 75.3 | -24.7% |
| Paramount Group, In… (PGRE) | 100 | 85.5 | -14.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CIO vs PGRE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: CIO leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and capital preservation and lower volatility. Paramount Group, Inc. is the stronger pick specifically for growth and revenue expansion and profitability and margin quality. As sector peers, any of these can serve as alternatives in the same allocation.
CIO
City Office REIT, Inc.
The Real Estate Income Play
CIO carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 0 yrs, beta 0.11, yield 8.4%
- 19.2% 10Y total return vs PGRE's -45.5%
- Lower volatility, beta 0.11, Low D/E 88.1%, current ratio 0.32x
Best for: income & stability and long-term compounding
PGRE
Paramount Group, Inc.
The Real Estate Income Play
PGRE is the clearest fit if your priority is growth exposure.
- Rev growth 2.0%, EPS growth 82.5%, 3Y rev CAGR 1.4%
- 2.0% FFO/revenue growth vs CIO's -4.5%
- -13.5% margin vs CIO's -75.3%
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | PGRE | 2.0% FFO/revenue growth vs CIO's -4.5% |
| Value | CIO | Better valuation composite |
| Quality / Margins | PGRE | -13.5% margin vs CIO's -75.3% |
| Stability / Safety | CIO | Beta 0.11 vs PGRE's 0.31, lower leverage |
| Dividends | CIO | 8.4% yield, vs PGRE's 1.6% |
| Momentum (1Y) | CIO | +45.9% vs PGRE's +42.9% |
| Efficiency (ROA) | PGRE | -1.2% ROA vs CIO's -11.6%, ROIC 1.5% vs 1.0% |
CIO vs PGRE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2024
CIO vs PGRE — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLCIOLAGGINGPGRE
PGREParamount Group, Inc.
1leads
CIOCity Office REIT, Inc.
4leads
6 Total Categories
CATEGORYLEADERvs PGREMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
CIO3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
PGRE6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
CIO5/5
Risk & VolatilityBeta, volatility, and downside exposure
CIO2/2
Analyst OutlookRatings, price targets, and dividends
CIO1/1
Income & Cash Flow (Last 12 Months)
Evenly matched — CIO and PGRE each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
PGRE is the larger business by revenue, generating $723M annually — 4.4x CIO's $164M. PGRE is the more profitable business, keeping -13.5% of every revenue dollar as net income compared to CIO's -75.3%.
| Metric | CIOCity Office REIT,… | PGREParamount Group, … |
|---|---|---|
| RevenueTrailing 12 months | $164M | $723M |
| EBITDAEarnings before interest/tax | -$30M | $342M |
| Net IncomeAfter-tax profit | -$123M | -$97M |
| Free Cash FlowCash after capex | $48M | $165M |
| Gross MarginGross profit ÷ Revenue | +60.5% | +57.2% |
| Operating MarginEBIT ÷ Revenue | -53.1% | +14.7% |
| Net MarginNet income ÷ Revenue | -75.3% | -13.5% |
| FCF MarginFCF ÷ Revenue | +29.1% | +22.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | -12.0% | -11.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -27.3% | -191.5% |
Evenly matched — CIO and PGRE each lead in 3 of 6 comparable metrics.
Valuation Metrics
CIO leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, CIO's 11.7x EV/EBITDA is more attractive than PGRE's 12.3x.
| Metric | CIOCity Office REIT,… | PGREParamount Group, … |
|---|---|---|
| Market CapShares × price | $282M | $1.5B |
| Enterprise ValueMkt cap + debt − cash | $910M | $4.8B |
| Trailing P/EPrice ÷ TTM EPS | -11.10x | -31.43x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 11.67x | 12.29x |
| Price / SalesMarket cap ÷ Revenue | 1.65x | 1.93x |
| Price / BookPrice ÷ Book value/share | 0.38x | 0.36x |
| Price / FCFMarket cap ÷ FCF | 4.79x | 5.53x |
CIO leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
PGRE leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
PGRE delivers a -2.4% return on equity — every $100 of shareholder capital generates $-2 in annual profit, vs $-20 for CIO. CIO carries lower financial leverage with a 0.88x debt-to-equity ratio, signaling a more conservative balance sheet compared to PGRE's 0.92x. On the Piotroski fundamental quality scale (0–9), PGRE scores 7/9 vs CIO's 2/9, reflecting strong financial health.
| Metric | CIOCity Office REIT,… | PGREParamount Group, … |
|---|---|---|
| ROE (TTM)Return on equity | -20.2% | -2.4% |
| ROA (TTM)Return on assets | -11.6% | -1.2% |
| ROICReturn on invested capital | +1.0% | +1.5% |
| ROCEReturn on capital employed | +1.5% | +1.9% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 7 |
| Debt / EquityFinancial leverage | 0.88x | 0.92x |
| Net DebtTotal debt minus cash | $628M | $3.3B |
| Cash & Equiv.Liquid assets | $19M | $375M |
| Total DebtShort + long-term debt | $647M | $3.7B |
| Interest CoverageEBIT ÷ Interest expense | 0.57x | 0.95x |
PGRE leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
CIO leads this category, winning 5 of 5 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CIO five years ago would be worth $8,391 today (with dividends reinvested), compared to $6,936 for PGRE. Over the past 12 months, CIO leads with a +45.9% total return vs PGRE's +42.9%. The 3-year compound annual growth rate (CAGR) favors CIO at 17.6% vs PGRE's 14.9% — a key indicator of consistent wealth creation.
| Metric | CIOCity Office REIT,… | PGREParamount Group, … |
|---|---|---|
| YTD ReturnYear-to-date | +0.1% | — |
| 1-Year ReturnPast 12 months | +45.9% | +42.9% |
| 3-Year ReturnCumulative with dividends | +62.7% | +51.6% |
| 5-Year ReturnCumulative with dividends | -16.1% | -30.6% |
| 10-Year ReturnCumulative with dividends | +19.2% | -45.5% |
| CAGR (3Y)Annualised 3-year return | +17.6% | +14.9% |
CIO leads this category, winning 5 of 5 comparable metrics.
Risk & Volatility
CIO leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
CIO is the less volatile stock with a 0.11 beta — it tends to amplify market swings less than PGRE's 0.31 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CIO currently trades 99.7% from its 52-week high vs PGRE's 84.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CIOCity Office REIT,… | PGREParamount Group, … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.11x | 0.31x |
| 52-Week HighHighest price in past year | $7.01 | $7.85 |
| 52-Week LowLowest price in past year | $4.62 | $4.47 |
| % of 52W HighCurrent price vs 52-week peak | +99.7% | +84.1% |
| RSI (14)Momentum oscillator 0–100 | 69.3 | 56.8 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 1.5M |
CIO leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
CIO leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates CIO as "Hold" and PGRE as "Hold". Consensus price targets imply 114.6% upside for CIO (target: $15) vs 81.8% for PGRE (target: $12). For income investors, CIO offers the higher dividend yield at 8.36% vs PGRE's 1.59%.
| Metric | CIOCity Office REIT,… | PGREParamount Group, … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $15.00 | $12.00 |
| # AnalystsCovering analysts | 8 | 13 |
| Dividend YieldAnnual dividend ÷ price | +8.4% | +1.6% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.58 | $0.11 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% |
CIO leads this category, winning 1 of 1 comparable metric.
Key Takeaway
CIO leads in 4 of 6 categories (Valuation Metrics, Total Returns). PGRE leads in 1 (Profitability & Efficiency). 1 tied.
Best OverallCity Office REIT, Inc. (CIO)Leads 4 of 6 categories
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CIO vs PGRE: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is CIO or PGRE a better buy right now?
For growth investors, Paramount Group, Inc.
(PGRE) is the stronger pick with 2. 0% revenue growth year-over-year, versus -4. 5% for City Office REIT, Inc. (CIO). Analysts rate City Office REIT, Inc. (CIO) a "Hold" — based on 8 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — CIO or PGRE?
Over the past 5 years, City Office REIT, Inc.
(CIO) delivered a total return of -16. 1%, compared to -30. 6% for Paramount Group, Inc. (PGRE). Over 10 years, the gap is even starker: CIO returned +18. 0% versus PGRE's -46. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — CIO or PGRE?
By beta (market sensitivity over 5 years), City Office REIT, Inc.
(CIO) is the lower-risk stock at 0. 11β versus Paramount Group, Inc. 's 0. 31β — meaning PGRE is approximately 181% more volatile than CIO relative to the S&P 500. On balance sheet safety, City Office REIT, Inc. (CIO) carries a lower debt/equity ratio of 88% versus 92% for Paramount Group, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — CIO or PGRE?
By revenue growth (latest reported year), Paramount Group, Inc.
(PGRE) is pulling ahead at 2. 0% versus -4. 5% for City Office REIT, Inc. (CIO). On earnings-per-share growth, the picture is similar: Paramount Group, Inc. grew EPS 82. 5% year-over-year, compared to -152. 0% for City Office REIT, Inc.. Over a 3-year CAGR, CIO leads at 1. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — CIO or PGRE?
Paramount Group, Inc.
(PGRE) is the more profitable company, earning -6. 1% net margin versus -10. 3% for City Office REIT, Inc. — meaning it keeps -6. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PGRE leads at 19. 6% versus 10. 9% for CIO. At the gross margin level — before operating expenses — PGRE leads at 60. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — CIO or PGRE?
All stocks in this comparison pay dividends.
City Office REIT, Inc. (CIO) offers the highest yield at 8. 4%, versus 1. 6% for Paramount Group, Inc. (PGRE).
07Is CIO or PGRE better for a retirement portfolio?
For long-horizon retirement investors, City Office REIT, Inc.
(CIO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 11), 8. 4% yield). Both have compounded well over 10 years (CIO: +18. 0%, PGRE: -46. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between CIO and PGRE?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: CIO is a small-cap income-oriented stock; PGRE is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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