Equities research analysts expect that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will report $0.43 earnings per share (EPS) for the current quarter, Zacks reports. 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 reported earnings of $0.42 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.4%. The firm is expected to issue its next earnings results on Wednesday, November 7th.
According to Zacks, 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 $1.68 to $1.71. For the next financial year, analysts forecast 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 EPS calculations are a mean average based on a survey of analysts that follow Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company 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 earned $0.46 earnings per share.
Several equities analysts recently issued reports on PDM shares. DA Davidson upgraded Piedmont Office Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $23.00 in a research report on Friday, June 29th. ValuEngine lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.60.
Several institutional investors and hedge funds have recently modified their holdings of PDM. Cbre Clarion Securities LLC acquired a new position in Piedmont Office Realty Trust during the 2nd quarter worth approximately $98,513,000. Citadel Advisors LLC acquired a new position in Piedmont Office Realty Trust during the 2nd quarter worth approximately $1,951,000. NumerixS Investment Technologies Inc boosted its position in Piedmont Office Realty Trust by 151.9% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,800 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 4,100 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 worth $49,285,000 after acquiring an additional 10,542 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its position in Piedmont Office Realty Trust by 13.7% during the 2nd quarter. Chicago Equity Partners LLC now owns 196,985 shares of the real estate investment trust’s stock worth $3,926,000 after acquiring an additional 23,735 shares during the last quarter. Institutional investors and hedge funds own 86.93% of the company’s stock.
Shares of PDM stock traded down $0.23 on Friday, reaching $19.75. The company had a trading volume of 569,115 shares, compared to its average volume of 800,111. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $2.56 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 2.94 and a beta of 0.61. Piedmont Office Realty Trust has a 12 month low of $16.69 and a 12 month high of $20.57.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, August 31st will be given a $0.21 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 4.25%. Piedmont Office Realty Trust’s dividend payout ratio is presently 48.00%.
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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