Piedmont Office Realty Trust, Inc. (PDM) Expected to Post Earnings of $0.43 Per Share

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.

Recommended Story: Stop Order Uses For Individual Investors

Get a free copy of the Zacks research report on Piedmont Office Realty Trust (PDM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Piedmont Office Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply