$0.43 EPS Expected for Piedmont Office Realty Trust, Inc. (PDM) This Quarter

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.

Read More: What is Cost of Goods Sold (COGS)?

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.