Piedmont Office Realty Trust (PDM) Posts Earnings Results, Beats Expectations By $0.04 EPS

Piedmont Office Realty Trust (NYSE:PDM) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.04, MarketWatch Earnings reports. Piedmont Office Realty Trust had a net margin of 10.13% and a return on equity of 2.91%. The company had revenue of $129.71 million for the quarter, compared to the consensus estimate of $127.24 million. During the same period last year, the company earned $0.42 earnings per share. Piedmont Office Realty Trust updated its FY18 guidance to $1.70-1.73 EPS.

Shares of NYSE:PDM traded down $0.03 during midday trading on Thursday, hitting $17.99. The stock had a trading volume of 84,712 shares, compared to its average volume of 721,961. 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 stock has a market capitalization of $2.37 billion, a PE ratio of 10.28, a P/E/G ratio of 2.71 and a beta of 0.60.

Several equities analysts recently weighed in on PDM shares. ValuEngine raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. TheStreet cut shares of Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a research note on Monday, October 8th. Finally, Zacks Investment Research cut shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.25.

About Piedmont Office Realty Trust

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

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