Wall Street analysts forecast that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will announce sales of $136.44 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Piedmont Office Realty Trust’s earnings. The lowest sales estimate is $131.75 million and the highest is $139.50 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 business is scheduled to issue its next earnings report 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 fiscal year, with estimates ranging from $566.76 million to $571.85 million. For the next year, analysts anticipate that the business will report sales of $536.32 million per share, with estimates ranging from $512.38 million to $566.42 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The company had revenue of $137.59 million for the quarter, compared to the consensus estimate of $140.39 million. Piedmont Office Realty Trust had a return on equity of 4.06% and a net margin of 33.72%. During the same quarter in the prior year, the company posted $0.41 EPS.
Piedmont Office Realty Trust (NYSE:PDM) opened at $19.27 on Friday. The company has a market capitalization of $2,786.38, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 2.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.15 and a quick ratio of 2.15. Piedmont Office Realty Trust has a 12-month low of $18.91 and a 12-month high of $23.08.
The company also recently announced a None dividend, which was paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 26th were issued a $0.50 dividend. This represents a dividend yield of 4.16%. This is a boost from Piedmont Office Realty Trust’s previous None dividend of $0.21. The ex-dividend date was Friday, December 22nd. Piedmont Office Realty Trust’s dividend payout ratio is currently 62.69%.
Several hedge funds have recently modified their holdings of PDM. Prudential Financial Inc. lifted its stake in shares of Piedmont Office Realty Trust by 321.4% during the 3rd quarter. Prudential Financial Inc. now owns 1,914,228 shares of the real estate investment trust’s stock worth $38,591,000 after purchasing an additional 1,459,995 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter worth $485,000. Northern Trust Corp lifted 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 purchasing an additional 283,654 shares during the last quarter. Numeric Investors LLC lifted its stake in shares of Piedmont Office Realty Trust by 369.7% during the 2nd quarter. Numeric Investors LLC now owns 335,800 shares of the real estate investment trust’s stock worth $7,079,000 after purchasing an additional 264,300 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of 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 purchasing an additional 184,176 shares during the last quarter. Institutional investors and hedge funds own 83.34% 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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