For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is City Office REIT (CIO - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
City Office REIT is one of 847 individual stocks in the Finance sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CIO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CIO's full-year earnings has moved 1.73% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CIO has returned 32.88% so far this year. Meanwhile, the Finance sector has returned an average of 10.57% on a year-to-date basis. This means that City Office REIT is outperforming the sector as a whole this year.
Breaking things down more, CIO is a member of the REIT and Equity Trust - Other industry, which includes 117 individual companies and currently sits at #83 in the Zacks Industry Rank. Stocks in this group have gained about 27.51% so far this year, so CIO is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Finance stocks should continue to pay close attention to CIO as it looks to continue its solid performance.