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

Equities analysts expect Piedmont Office Realty Trust, Inc. (NYSE:PDM) to announce $0.43 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Piedmont Office Realty Trust’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.45. Piedmont Office Realty Trust posted earnings per share of $0.41 during the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The company is scheduled to issue its next earnings results on Wednesday, August 7th.

On average, 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 anticipate that the firm will post earnings of $1.84 per share, with EPS estimates ranging from $1.83 to $1.86. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.40 earnings per share 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 company had revenue of $132.90 million for the quarter, compared to analyst estimates of $120.78 million. During the same quarter last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis.

Several research firms recently weighed in on PDM. Zacks Investment Research downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Stifel Nicolaus upgraded 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 report 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 company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.33.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Piedmont Office Realty Trust by 2.8% during the 4th quarter. BlackRock Inc. now owns 13,652,709 shares of the real estate investment trust’s stock valued at $232,642,000 after acquiring an additional 375,052 shares in the last quarter. American Century Companies Inc. grew its stake in Piedmont Office Realty Trust by 3.2% during the 4th quarter. American Century Companies Inc. now owns 5,180,448 shares of the real estate investment trust’s stock valued at $88,275,000 after acquiring an additional 159,032 shares in the last quarter. Cbre Clarion Securities LLC grew its stake in Piedmont Office Realty Trust by 5.4% during the 1st quarter. Cbre Clarion Securities LLC now owns 4,293,959 shares of the real estate investment trust’s stock valued at $89,529,000 after acquiring an additional 221,242 shares in the last quarter. Renaissance Technologies LLC grew its stake in Piedmont Office Realty Trust by 2.8% during the 1st quarter. Renaissance Technologies LLC now owns 3,256,500 shares of the real estate investment trust’s stock valued at $67,898,000 after acquiring an additional 89,600 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Piedmont Office Realty Trust by 40.1% during 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 acquiring an additional 834,192 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

PDM opened at $20.36 on Friday. Piedmont Office Realty Trust has a twelve month low of $16.43 and a twelve month high of $21.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market cap of $2.55 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.91 and a beta of 0.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 31st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.84 annualized dividend and a yield of 4.13%. Piedmont Office Realty Trust’s dividend payout ratio is presently 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 are Bollinger Bands?

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