Piedmont Office Realty Trust (PDM) Expected to Post Earnings of $0.41 Per Share

Wall Street brokerages expect that Piedmont Office Realty Trust (NYSE:PDM) will post earnings per share (EPS) of $0.41 for the current quarter, according to Zacks. Five analysts have provided estimates for Piedmont Office Realty Trust’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.42. Piedmont Office Realty Trust posted earnings of $0.45 per share in the same quarter last year, which would suggest a negative year over year growth rate of 8.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that Piedmont Office Realty Trust will report full-year earnings of $1.69 per share for the current financial year, with EPS estimates ranging from $1.66 to $1.74. For the next year, analysts expect that the company will report earnings of $1.77 per share, with EPS estimates ranging from $1.68 to $1.84. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Piedmont Office Realty Trust.

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Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.63). The company had revenue of $139.44 million during the quarter, compared to analyst estimates of $136.82 million. Piedmont Office Realty Trust had a net margin of 23.26% and a return on equity of 1.16%.

Several equities analysts recently issued reports on PDM shares. SunTrust Banks set a $20.00 price target on Piedmont Office Realty Trust and gave the company a “hold” rating in a research report on Tuesday, March 6th. Zacks Investment Research cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Robert W. Baird set a $22.00 price objective on Piedmont Office Realty Trust and gave the company a “buy” rating in a report on Thursday, February 8th. Stifel Nicolaus lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Finally, ValuEngine lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Piedmont Office Realty Trust has an average rating of “Hold” and a consensus price target of $21.25.

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. Also, Director Jeffrey L. Swope purchased 5,700 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were purchased at an average cost of $17.57 per share, for a total transaction of $100,149.00. The disclosure for this purchase can be found here. 0.76% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in PDM. American Century Companies Inc. boosted its stake in shares of Piedmont Office Realty Trust by 25.5% during the 4th quarter. American Century Companies Inc. now owns 6,507,443 shares of the real estate investment trust’s stock worth $127,611,000 after acquiring an additional 1,320,393 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Piedmont Office Realty Trust by 25.2% during the 4th quarter. Renaissance Technologies LLC now owns 3,411,200 shares of the real estate investment trust’s stock worth $66,894,000 after acquiring an additional 686,300 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Piedmont Office Realty Trust by 5.8% during the 4th quarter. BlackRock Inc. now owns 10,515,155 shares of the real estate investment trust’s stock worth $206,202,000 after acquiring an additional 578,086 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Piedmont Office Realty Trust by 1,025.1% during the 4th quarter. Two Sigma Advisers LP now owns 276,473 shares of the real estate investment trust’s stock worth $5,422,000 after acquiring an additional 251,900 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Piedmont Office Realty Trust by 181.4% during the 4th quarter. Bank of Montreal Can now owns 355,913 shares of the real estate investment trust’s stock worth $6,979,000 after purchasing an additional 229,422 shares during the last quarter. 88.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of PDM stock opened at $17.66 on Friday. The stock has a market capitalization of $2,385.27, a P/E ratio of 10.09, a P/E/G ratio of 2.62 and a beta of 0.61. Piedmont Office Realty Trust has a 52-week low of $16.69 and a 52-week high of $22.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.85 and a current ratio of 0.85.

The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Thursday, February 22nd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 48.00%.

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About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select submarkets 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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Earnings History and Estimates for Piedmont Office Realty Trust (NYSE:PDM)

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