Wall Street analysts predict that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will announce sales of $136.44 million for the current quarter, according to Zacks. Five analysts have made estimates for Piedmont Office Realty Trust’s earnings, with the highest sales estimate coming in at $139.50 million and the lowest estimate coming in at $131.75 million. Piedmont Office Realty Trust posted sales of $143.91 million in the same quarter last year, which suggests a negative year over year growth rate of 5.2%. The company is expected to issue its next earnings results on Wednesday, February 14th.

On average, analysts expect that Piedmont Office Realty Trust will report full-year sales of $136.44 million for the current financial year, with estimates ranging from $566.76 million to $571.85 million. For the next fiscal year, analysts forecast that the business will report sales of $536.32 million per share, with estimates ranging from $512.38 million to $566.42 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Piedmont Office Realty Trust.

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

Several equities analysts recently weighed in on the company. ValuEngine upgraded Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $20.00 price target on shares of Piedmont Office Realty Trust in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Piedmont Office Realty Trust has a consensus rating of “Hold” and an average price target of $22.33.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in 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 buying an additional 97,660 shares in the last quarter. LSV Asset Management increased its stake in 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 buying an additional 95,600 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Piedmont Office Realty Trust by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,306,576 shares of the real estate investment trust’s stock worth $46,501,000 after buying an additional 41,312 shares in the last quarter. Northern Trust Corp increased its stake in 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 buying an additional 283,654 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Piedmont Office Realty Trust by 9.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,087,500 shares of the real estate investment trust’s stock worth $44,005,000 after buying an additional 184,176 shares in the last quarter. Institutional investors own 83.35% of the company’s stock.

Shares of Piedmont Office Realty Trust (NYSE PDM) traded up $0.16 during trading on Thursday, hitting $19.67. The company had a trading volume of 999,034 shares, compared to its average volume of 712,978. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.78. Piedmont Office Realty Trust has a 1 year low of $19.10 and a 1 year high of $23.08. The stock has a market cap of $2,816.70, a price-to-earnings ratio of 14.68, a PEG ratio of 2.78 and a beta of 0.63.

The company also recently disclosed a None dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 26th will be paid a dividend of $0.50 per share. This is a positive change from Piedmont Office Realty Trust’s previous None dividend of $0.21. This represents a yield of 4.16%. The ex-dividend date of this dividend is Friday, December 22nd. Piedmont Office Realty Trust’s payout ratio is 62.69%.

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Piedmont Office Realty Trust Company Profile

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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