Wall Street brokerages expect Piedmont Office Realty Trust, Inc. (NYSE:PDM) to post $127.24 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Piedmont Office Realty Trust’s earnings, with estimates ranging from $122.10 million to $129.53 million. Piedmont Office Realty Trust reported sales of $137.59 million in the same quarter last year, which indicates a negative year-over-year growth rate of 7.5%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, October 30th.
According to Zacks, analysts expect that Piedmont Office Realty Trust will report full-year sales of $512.72 million for the current year, with estimates ranging from $502.53 million to $517.69 million. For the next financial year, analysts forecast that the business will post sales of $512.51 million, with estimates ranging from $495.57 million to $535.73 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). The firm had revenue of $129.17 million during the quarter, compared to analyst estimates of $125.15 million. Piedmont Office Realty Trust had a net margin of 30.50% and a return on equity of 2.81%. During the same period last year, the business posted $0.46 earnings per share.
Shares of Piedmont Office Realty Trust stock traded up $0.03 during trading on Friday, reaching $18.28. 459,154 shares of the company were exchanged, compared to its average volume of 1,179,203. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. Piedmont Office Realty Trust has a twelve month low of $16.69 and a twelve month high of $20.57. The stock has a market cap of $2.36 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.60.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, August 31st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.60%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 48.00%.
A number of large investors have recently bought and sold shares of PDM. Point72 Hong Kong Ltd acquired a new position in Piedmont Office Realty Trust in the second quarter valued at about $110,000. Assetmark Inc. lifted its holdings in shares of Piedmont Office Realty Trust by 2,017.2% in the first quarter. Assetmark Inc. now owns 6,521 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 6,213 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in shares of Piedmont Office Realty Trust by 151.9% in the second quarter. NumerixS Investment Technologies Inc now owns 6,800 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 4,100 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Piedmont Office Realty Trust in the third quarter valued at about $161,000. Finally, Titus Wealth Management bought a new stake in shares of Piedmont Office Realty Trust in the second quarter valued at about $215,000. 86.54% of the stock is owned by hedge funds and other institutional investors.
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 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.
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