Analysts expect Piedmont Office Realty Trust, Inc. (NYSE:PDM) to announce earnings per share of $0.43 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Piedmont Office Realty Trust’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.43. Piedmont Office Realty Trust posted earnings of $0.42 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 2.4%. The company is expected to issue its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Piedmont Office Realty Trust will report full year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.71. For the next fiscal year, analysts anticipate that the business will post earnings of $1.77 per share, with EPS estimates ranging from $1.71 to $1.81. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $129.17 million during the quarter, compared to the consensus estimate of $125.15 million. Piedmont Office Realty Trust had a net margin of 30.50% and a return on equity of 2.81%. During the same period last year, the company posted $0.46 earnings per share.
Several research firms recently issued reports on PDM. ValuEngine raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. DA Davidson raised Piedmont Office Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $23.00 in a research report on Friday, June 29th. Finally, TheStreet cut Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Piedmont Office Realty Trust presently has an average rating of “Hold” and an average target price of $21.25.
PDM stock traded down $0.10 during midday trading on Friday, hitting $17.83. The company’s stock had a trading volume of 882,500 shares, compared to its average volume of 1,190,211. The stock has a market capitalization of $2.43 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Piedmont Office Realty Trust has a 12 month low of $16.69 and a 12 month high of $20.57. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.99.
The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, August 31st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 4.71%. Piedmont Office Realty Trust’s dividend payout ratio is presently 48.00%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Piedmont Office Realty Trust by 25.5% during the 2nd quarter. BlackRock Inc. now owns 13,293,804 shares of the real estate investment trust’s stock valued at $264,945,000 after buying an additional 2,702,702 shares during the last quarter. LSV Asset Management raised its stake in Piedmont Office Realty Trust by 6.9% during the 2nd quarter. LSV Asset Management now owns 7,262,925 shares of the real estate investment trust’s stock valued at $144,750,000 after buying an additional 469,444 shares during the last quarter. Cbre Clarion Securities LLC purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter valued at $98,513,000. Brookfield Asset Management Inc. purchased a new stake in Piedmont Office Realty Trust during the 1st quarter valued at $65,610,000. Finally, Dimensional Fund Advisors LP raised its stake in Piedmont Office Realty Trust by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,472,970 shares of the real estate investment trust’s stock valued at $49,285,000 after buying an additional 10,542 shares during the last quarter. Institutional investors and hedge funds own 86.52% of the company’s stock.
Piedmont Office Realty Trust Company Profile
Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.
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