Brokerages predict that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will report earnings per share (EPS) of $0.43 for the current quarter, according to Zacks. Four analysts have issued estimates for Piedmont Office Realty Trust’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.43. Piedmont Office Realty Trust posted earnings per share of $0.41 in the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Piedmont Office Realty Trust will report full-year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.80. For the next year, analysts expect that the company will post earnings of $1.85 per share, with EPS estimates ranging from $1.84 to $1.88. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). Piedmont Office Realty Trust had a return on equity of 7.10% and a net margin of 23.19%. The firm had revenue of $132.90 million during the quarter, compared to the consensus estimate of $120.78 million. During the same quarter last year, the company posted $0.43 EPS. Piedmont Office Realty Trust’s revenue for the quarter was up 2.3% on a year-over-year basis.
A number of analysts have recently weighed in on PDM shares. Zacks Investment Research lowered shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Stifel Nicolaus raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating and upped their price target for the stock from $16.00 to $20.00 in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Piedmont Office Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $22.33.
Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Piedmont Office Realty Trust by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,158 shares of the real estate investment trust’s stock valued at $55,203,000 after purchasing an additional 834,192 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Piedmont Office Realty Trust during the third quarter valued at about $397,000. Teachers Advisors LLC raised its stake in Piedmont Office Realty Trust by 2.3% in the third quarter. Teachers Advisors LLC now owns 261,940 shares of the real estate investment trust’s stock worth $4,959,000 after buying an additional 5,840 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Piedmont Office Realty Trust by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 41,806 shares of the real estate investment trust’s stock worth $712,000 after buying an additional 764 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Piedmont Office Realty Trust by 61.7% in the fourth quarter. Meeder Asset Management Inc. now owns 59,214 shares of the real estate investment trust’s stock worth $1,009,000 after buying an additional 22,585 shares in the last quarter. 84.51% of the stock is owned by institutional investors.
Shares of NYSE:PDM traded up $0.19 during trading on Wednesday, reaching $20.88. The company had a trading volume of 20,757 shares, compared to its average volume of 766,933. The firm has a market cap of $2.59 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.94 and a beta of 0.79. Piedmont Office Realty Trust has a twelve month low of $16.43 and a twelve month high of $21.40. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.91.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 31st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, May 30th. Piedmont Office Realty Trust’s dividend payout ratio is currently 48.55%.
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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