Equities analysts forecast that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will post sales of $140.39 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Piedmont Office Realty Trust’s earnings. The lowest sales estimate is $136.33 million and the highest is $146.90 million. Piedmont Office Realty Trust posted sales of $138.49 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, November 1st.

According to Zacks, analysts expect that Piedmont Office Realty Trust will report full year sales of $140.39 million for the current fiscal year, with estimates ranging from $568.21 million to $589.29 million. For the next fiscal year, analysts expect that the firm will post sales of $553.89 million per share, with estimates ranging from $515.60 million to $576.18 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. During the same quarter in the previous year, the business earned $0.41 earnings per share.

A number of research analysts have issued reports on PDM shares. ValuEngine upgraded Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, July 5th. BidaskClub upgraded Piedmont Office Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and issued a $21.00 price objective on shares of Piedmont Office Realty Trust in a research note on Thursday, September 21st. Finally, Robert W. Baird upgraded Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $23.00 to $24.00 in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.67.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Piedmont Office Realty Trust by 1.0% during the 2nd quarter. BlackRock Inc. now owns 9,707,520 shares of the real estate investment trust’s stock worth $204,634,000 after acquiring an additional 97,660 shares during the period. LSV Asset Management grew its stake in shares of Piedmont Office Realty Trust by 1.4% during the 2nd quarter. LSV Asset Management now owns 6,801,281 shares of the real estate investment trust’s stock worth $143,370,000 after acquiring an additional 95,600 shares during the period. American Century Companies Inc. grew its stake in shares of Piedmont Office Realty Trust by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 5,265,600 shares of the real estate investment trust’s stock worth $110,999,000 after acquiring an additional 54,084 shares during the period. State Street Corp grew its stake in shares of Piedmont Office Realty Trust by 4.5% during the 1st quarter. State Street Corp now owns 4,777,715 shares of the real estate investment trust’s stock worth $102,146,000 after acquiring an additional 205,578 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Piedmont Office Realty Trust by 14.1% during the 2nd quarter. Northern Trust Corp now owns 2,291,801 shares of the real estate investment trust’s stock worth $48,311,000 after acquiring an additional 283,654 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.

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Earnings History and Estimates for Piedmont Office Realty Trust (NYSE:PDM)

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