Piedmont Office Realty Trust, Inc. (NYSE:PDM) – Investment analysts at SunTrust Banks increased their FY2018 earnings per share (EPS) estimates for Piedmont Office Realty Trust in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will earn $1.67 per share for the year, up from their prior estimate of $1.65. SunTrust Banks has a “Hold” rating and a $20.00 price objective on the stock. SunTrust Banks also issued estimates for Piedmont Office Realty Trust’s Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.42 EPS, Q4 2019 earnings at $0.42 EPS and FY2022 earnings at $1.88 EPS.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.63). The firm had revenue of $139.44 million for the quarter, compared to analysts’ expectations of $136.82 million. Piedmont Office Realty Trust had a return on equity of 1.16% and a net margin of 23.26%.
Shares of Piedmont Office Realty Trust (PDM) opened at $17.93 on Thursday. The company has a market capitalization of $2,414.97, a P/E ratio of 10.22, a PEG ratio of 2.67 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.85 and a current ratio of 0.85. Piedmont Office Realty Trust has a 52 week low of $17.45 and a 52 week high of $22.74.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Thursday, February 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 91.30%.
In other news, insider Christopher Brent Smith purchased 2,800 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $17.80 per share, with a total value of $49,840.00. Following the purchase, the insider now directly owns 53,027 shares of the company’s stock, valued at $943,880.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.76% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of PDM. Point72 Asset Management L.P. acquired a new position in shares of Piedmont Office Realty Trust during the 3rd quarter worth approximately $135,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Piedmont Office Realty Trust during the 3rd quarter worth approximately $144,000. Dean Capital Investments Management LLC acquired a new position in shares of Piedmont Office Realty Trust during the 4th quarter worth approximately $202,000. Allianz Asset Management GmbH acquired a new position in shares of Piedmont Office Realty Trust during the 3rd quarter worth approximately $205,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Piedmont Office Realty Trust by 123.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,600 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 6,400 shares during the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.
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