Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company to watch right now is City Office REIT (CIO). CIO is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Investors will also notice that CIO has a PEG ratio of 0.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CIO's industry currently sports an average PEG of 2.33. CIO's PEG has been as high as 0.94 and as low as 0.52, with a median of 0.77, all within the past year.

Finally, investors should note that CIO has a P/CF ratio of 4.85. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. CIO's current P/CF looks attractive when compared to its industry's average P/CF of 16.41. Over the past 52 weeks, CIO's P/CF has been as high as 5.17 and as low as 2.63, with a median of 3.95.

Another great REIT and Equity Trust - Other stock you could consider is Xenia Hotels & Resorts (XHR), which is a # 2 (Buy) stock with a Value Score of A.

Xenia Hotels & Resorts also has a P/B ratio of 1.04 compared to its industry's price-to-book ratio of 1.82. Over the past year, its P/B ratio has been as high as 1.28, as low as 0.97, with a median of 1.15.

These figures are just a handful of the metrics value investors tend to look at, but they help show that City Office REIT and Xenia Hotels & Resorts are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CIO and XHR feels like a great value stock at the moment.

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City Office REIT, Inc. (CIO) : Free Stock Analysis Report

Xenia Hotels & Resorts, Inc. (XHR) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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