REIT - Office
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CIO vs PDM
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Office
CIO vs PDM — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | REIT - Office | REIT - Office |
| Market Cap | $282M | $1.06B |
| Revenue (TTM) | $164M | $422M |
| Net Income (TTM) | $-123M | $-86M |
| Gross Margin | 60.5% | 19.1% |
| Operating Margin | -53.1% | 13.9% |
| Total Debt | $647M | $2.27B |
| Cash & Equiv. | $19M | $731K |
CIO vs PDM — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | Jan 26 | Return |
|---|---|---|---|
| City Office REIT, I… (CIO) | 100 | 75.3 | -24.7% |
| Piedmont Office Rea… (PDM) | 100 | 50.0 | -50.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CIO vs PDM
Each card shows where this stock fits in a portfolio — not just who wins on paper.
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 PDM's -23.2%
- Lower volatility, beta 0.11, Low D/E 88.1%, current ratio 0.32x
PDM is the clearest fit if your priority is growth exposure.
- Rev growth -0.9%, EPS growth -4.7%, 3Y rev CAGR 0.1%
- -0.9% FFO/revenue growth vs CIO's -4.5%
- -20.5% margin vs CIO's -75.3%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | -0.9% FFO/revenue growth vs CIO's -4.5% | |
| Quality / Margins | -20.5% margin vs CIO's -75.3% | |
| Stability / Safety | Beta 0.11 vs PDM's 1.08, lower leverage | |
| Dividends | 8.4% yield, vs PDM's 2.9% | |
| Momentum (1Y) | +45.9% vs PDM's +29.8% | |
| Efficiency (ROA) | -2.2% ROA vs CIO's -11.6%, ROIC 1.5% vs 1.0% |
CIO vs PDM — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
CIO vs PDM — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
Evenly matched — CIO and PDM each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
PDM is the larger business by revenue, generating $422M annually — 2.6x CIO's $164M. PDM is the more profitable business, keeping -20.5% of every revenue dollar as net income compared to CIO's -75.3%. On growth, CIO holds the edge at -12.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $164M | $422M |
| EBITDAEarnings before interest/tax | -$30M | $229M |
| Net IncomeAfter-tax profit | -$123M | -$86M |
| Free Cash FlowCash after capex | $48M | $47M |
| Gross MarginGross profit ÷ Revenue | +60.5% | +19.1% |
| Operating MarginEBIT ÷ Revenue | -53.1% | +13.9% |
| Net MarginNet income ÷ Revenue | -75.3% | -20.5% |
| FCF MarginFCF ÷ Revenue | +29.1% | +11.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | -12.0% | -100.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -27.3% | -23.0% |
Valuation Metrics
Evenly matched — CIO and PDM each lead in 2 of 4 comparable metrics.
Valuation Metrics
On an enterprise value basis, PDM's 10.9x EV/EBITDA is more attractive than CIO's 11.7x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $282M | $1.1B |
| Enterprise ValueMkt cap + debt − cash | $910M | $3.3B |
| Trailing P/EPrice ÷ TTM EPS | -11.10x | -12.61x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 11.67x | 10.86x |
| Price / SalesMarket cap ÷ Revenue | 1.65x | 1.87x |
| Price / BookPrice ÷ Book value/share | 0.38x | 0.70x |
| Price / FCFMarket cap ÷ FCF | 4.79x | — |
Profitability & Efficiency
PDM leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
PDM delivers a -5.7% return on equity — every $100 of shareholder capital generates $-6 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 PDM's 1.52x. On the Piotroski fundamental quality scale (0–9), PDM scores 5/9 vs CIO's 2/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -20.2% | -5.7% |
| ROA (TTM)Return on assets | -11.6% | -2.2% |
| ROICReturn on invested capital | +1.0% | +1.5% |
| ROCEReturn on capital employed | +1.5% | +2.0% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 5 |
| Debt / EquityFinancial leverage | 0.88x | 1.52x |
| Net DebtTotal debt minus cash | $628M | $2.3B |
| Cash & Equiv.Liquid assets | $19M | $731,000 |
| Total DebtShort + long-term debt | $647M | $2.3B |
| Interest CoverageEBIT ÷ Interest expense | 0.57x | 0.35x |
Total Returns (Dividends Reinvested)
CIO leads this category, winning 5 of 6 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 $6,046 for PDM. Over the past 12 months, CIO leads with a +45.9% total return vs PDM's +29.8%. The 3-year compound annual growth rate (CAGR) favors CIO at 17.6% vs PDM's 13.7% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +0.1% | +1.9% |
| 1-Year ReturnPast 12 months | +45.9% | +29.8% |
| 3-Year ReturnCumulative with dividends | +62.7% | +46.9% |
| 5-Year ReturnCumulative with dividends | -16.1% | -39.5% |
| 10-Year ReturnCumulative with dividends | +19.2% | -23.2% |
| CAGR (3Y)Annualised 3-year return | +17.6% | +13.7% |
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 PDM's 1.08 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 PDM's 91.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.11x | 1.08x |
| 52-Week HighHighest price in past year | $7.01 | $9.19 |
| 52-Week LowLowest price in past year | $4.62 | $6.32 |
| % of 52W HighCurrent price vs 52-week peak | +99.7% | +91.9% |
| RSI (14)Momentum oscillator 0–100 | 69.3 | 66.3 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 1.1M |
Analyst Outlook
CIO leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates CIO as "Hold" and PDM as "Hold". Consensus price targets imply 114.6% upside for CIO (target: $15) vs 18.3% for PDM (target: $10). For income investors, CIO offers the higher dividend yield at 8.36% vs PDM's 2.94%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $15.00 | $10.00 |
| # AnalystsCovering analysts | 8 | 11 |
| Dividend YieldAnnual dividend ÷ price | +8.4% | +2.9% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.58 | $0.25 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
CIO leads in 3 of 6 categories (Total Returns, Risk & Volatility). PDM leads in 1 (Profitability & Efficiency). 2 tied.
CIO vs PDM: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is CIO or PDM a better buy right now?
For growth investors, Piedmont Office Realty Trust, Inc.
(PDM) is the stronger pick with -0. 9% 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 PDM?
Over the past 5 years, City Office REIT, Inc.
(CIO) delivered a total return of -16. 1%, compared to -39. 5% for Piedmont Office Realty Trust, Inc. (PDM). Over 10 years, the gap is even starker: CIO returned +19. 2% versus PDM's -23. 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 PDM?
By beta (market sensitivity over 5 years), City Office REIT, Inc.
(CIO) is the lower-risk stock at 0. 11β versus Piedmont Office Realty Trust, Inc. 's 1. 08β — meaning PDM is approximately 879% 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 152% for Piedmont Office Realty Trust, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — CIO or PDM?
By revenue growth (latest reported year), Piedmont Office Realty Trust, Inc.
(PDM) is pulling ahead at -0. 9% versus -4. 5% for City Office REIT, Inc. (CIO). On earnings-per-share growth, the picture is similar: Piedmont Office Realty Trust, Inc. grew EPS -4. 7% 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 PDM?
City Office REIT, Inc.
(CIO) is the more profitable company, earning -10. 3% net margin versus -14. 8% for Piedmont Office Realty Trust, Inc. — meaning it keeps -10. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PDM leads at 14. 1% versus 10. 9% for CIO. At the gross margin level — before operating expenses — CIO leads at 59. 4%, 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 PDM?
All stocks in this comparison pay dividends.
City Office REIT, Inc. (CIO) offers the highest yield at 8. 4%, versus 2. 9% for Piedmont Office Realty Trust, Inc. (PDM).
07Is CIO or PDM 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: +19. 2%, PDM: -23. 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 PDM?
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; PDM 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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