Is City Office REIT, Inc. overvalued or undervalued?

As of 5 May 2023, the valuation grade for City Office REIT, Inc. has moved from very attractive to risky, indicating a shift in perception regarding its investment potential. The company appears to be overvalued based on its current metrics, particularly with a Price to Book Value of 0.29, an EV to EBITDA of 2.01, and a Dividend Yield of 765.65%.
In comparison to its peers, City Office REIT, Inc. has a notably high EV to EBIT ratio of 6.54, while peers like Industrial Logistics Properties Trust have a lower EV to EBITDA of 0.7955, and Transcontinental Realty Investors, Inc. boasts a much higher P/E ratio of 61.0588. Furthermore, the stock has underperformed against the S&P 500 over the 3-year and 5-year periods, with returns of -40.03% and -9.86%, respectively, compared to the S&P 500's returns of 70.41% and 96.61%.