Piedmont Office Realty Trust Inc. (PDM) Updates FY13 Earnings Guidance
Piedmont Office Realty Trust Inc. (NYSE:PDM) updated its FY13 earnings guidance on Thursday. The company provided earnings per share guidance of $1.45-1.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.43, American Banking & Market News reports.
A number of analysts have recently weighed in on PDM shares. Analysts at TheStreet downgraded shares of Piedmont Office Realty Trust from a buy rating to a hold rating in a research note to investors on Wednesday, September 11th. On a related note, analysts at RBC Capital cut their price target on shares of Piedmont Office Realty Trust from $19.00 to $18.00 in a research note to investors on Friday, August 16th. They now have an underperform rating on the stock. Finally, analysts at Robert W. Baird downgraded shares of Piedmont Office Realty Trust from an outperform rating to a neutral rating in a research note to investors on Thursday, August 8th. They now have a $19.00 price target on the stock, down previously from $22.00. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Piedmont Office Realty Trust currently has an average rating of Hold and a consensus price target of $19.33.
Piedmont Office Realty Trust Inc. (NYSE:PDM) traded up 0.05% on Thursday, hitting $18.48. 1,230,743 shares of the company’s stock traded hands. Piedmont Office Realty Trust Inc. has a 52-week low of $14.62 and a 52-week high of $21.09. The stock has a 50-day moving average of $17.90 and a 200-day moving average of $18.4. The company has a market cap of $3.075 billion and a price-to-earnings ratio of 41.23.
Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Friday, November 1st. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.02. The company had revenue of $145.10 million for the quarter, compared to the consensus estimate of $109.42 million. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts predict that Piedmont Office Realty Trust Inc. will post $1.42 earnings per share for the current fiscal year.
Piedmont Office Realty Trust, Inc (NYSE:PDM) is a real estate investment trust (REIT).
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