Piedmont Office Realty Trust, Inc. (NYSE:PDM) – Analysts at SunTrust Banks reduced their FY2018 EPS estimates for shares of Piedmont Office Realty Trust in a research note issued to investors on Thursday. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will earn $1.62 per share for the year, down from their prior forecast of $1.70.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $137.59 million during the quarter, compared to analyst estimates of $140.39 million. Piedmont Office Realty Trust had a net margin of 33.72% and a return on equity of 4.06%. During the same quarter last year, the business posted $0.41 EPS.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, October 11th. ValuEngine upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 target price on shares of Piedmont Office Realty Trust in a report on Friday, November 3rd. Finally, Robert W. Baird upgraded shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $23.00 to $24.00 in a report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.33.

Shares of Piedmont Office Realty Trust (NYSE PDM) opened at $19.96 on Monday. The stock has a market cap of $2,881.66, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 2.85 and a beta of 0.63. Piedmont Office Realty Trust has a 52 week low of $19.10 and a 52 week high of $23.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.15 and a current ratio of 2.15.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new position in Piedmont Office Realty Trust in the 3rd quarter worth $135,000. Wealthcare Advisory Partners LLC acquired a new stake in Piedmont Office Realty Trust in the 3rd quarter worth $144,000. SG Americas Securities LLC grew its position in Piedmont Office Realty Trust by 4.7% in the 2nd quarter. SG Americas Securities LLC now owns 8,060 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 364 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Piedmont Office Realty Trust by 19.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 1,404 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in Piedmont Office Realty Trust in the 3rd quarter worth $205,000. Hedge funds and other institutional investors own 83.35% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, November 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.84 annualized dividend and a yield of 4.21%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 62.69%.

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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.

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

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