Analysts Expect Piedmont Office Realty Trust, Inc. (NYSE:PDM) to Announce $0.50 EPS

Wall Street brokerages expect Piedmont Office Realty Trust, Inc. (NYSE:PDMGet Rating) to post $0.50 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Piedmont Office Realty Trust’s earnings, with estimates ranging from $0.49 to $0.50. Piedmont Office Realty Trust reported earnings per share of $0.48 in the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Piedmont Office Realty Trust will report full year earnings of $2.04 per share for the current financial year, with EPS estimates ranging from $2.03 to $2.04. For the next financial year, analysts expect that the company will post earnings of $2.12 per share, with EPS estimates ranging from $2.11 to $2.13. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDMGet Rating) last posted its quarterly earnings data on Monday, February 7th. The real estate investment trust reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.76). Piedmont Office Realty Trust had a return on equity of 2.69% and a net margin of 9.24%. The business had revenue of $138.16 million for the quarter, compared to analyst estimates of $135.05 million.

PDM has been the topic of several research reports. StockNews.com initiated coverage on Piedmont Office Realty Trust in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, April 12th.

Shares of PDM opened at $16.10 on Thursday. Piedmont Office Realty Trust has a 12-month low of $15.67 and a 12-month high of $20.35. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 40.25 and a beta of 0.97. The stock’s 50-day moving average price is $16.74 and its 200 day moving average price is $17.72.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Friday, May 27th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, May 26th. This represents a $0.84 annualized dividend and a yield of 5.22%. Piedmont Office Realty Trust’s dividend payout ratio is 210.00%.

In related news, Director Glenn Gary Cohen acquired 5,000 shares of the stock in a transaction dated Thursday, February 24th. The shares were bought at an average cost of $15.82 per share, for a total transaction of $79,100.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.13% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Piedmont Office Realty Trust by 8.4% in the 4th quarter. BlackRock Inc. now owns 13,086,883 shares of the real estate investment trust’s stock valued at $240,537,000 after purchasing an additional 1,018,560 shares during the period. State Street Corp boosted its holdings in shares of Piedmont Office Realty Trust by 8.1% in the 4th quarter. State Street Corp now owns 5,534,210 shares of the real estate investment trust’s stock worth $102,776,000 after acquiring an additional 416,408 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Piedmont Office Realty Trust by 2.4% in the 3rd quarter. LSV Asset Management now owns 4,685,694 shares of the real estate investment trust’s stock worth $81,671,000 after acquiring an additional 107,700 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Piedmont Office Realty Trust by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,895,478 shares of the real estate investment trust’s stock worth $67,898,000 after acquiring an additional 239,254 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Piedmont Office Realty Trust by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,575,445 shares of the real estate investment trust’s stock worth $44,890,000 after acquiring an additional 110,419 shares in the last quarter. Institutional investors own 81.15% of the company’s stock.

Piedmont Office Realty Trust Company Profile (Get Rating)

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

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

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