$0.41 Earnings Per Share Expected for Piedmont Office Realty Trust (PDM) This Quarter

Wall Street brokerages expect that Piedmont Office Realty Trust (NYSE:PDM) will report earnings per share of $0.41 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Piedmont Office Realty Trust’s earnings, with estimates ranging from $0.40 to $0.42. Piedmont Office Realty Trust reported earnings per share of $0.45 in the same quarter last year, which would suggest a negative year over year growth rate of 8.9%. The company is expected to report its next 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 anticipate that the company will post earnings of $1.77 per share, with EPS estimates ranging from $1.68 to $1.84. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Piedmont Office Realty Trust.

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

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

In related news, Director Jeffrey L. Swope acquired 5,700 shares of Piedmont Office Realty Trust stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average cost of $17.57 per share, for a total transaction of $100,149.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Brent Smith acquired 2,800 shares of Piedmont Office Realty Trust stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $17.80 per share, for a total transaction of $49,840.00. Following the completion of the purchase, the insider now owns 53,027 shares of the company’s stock, valued at approximately $943,880.60. The disclosure for this purchase can be found here. 0.76% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its stake in Piedmont Office Realty Trust by 28.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,680 shares of the real estate investment trust’s stock valued at $498,000 after buying an additional 5,464 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Piedmont Office Realty Trust by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 1,045,080 shares of the real estate investment trust’s stock valued at $21,069,000 after buying an additional 27,722 shares in the last quarter. SG Americas Securities LLC raised its stake in Piedmont Office Realty Trust by 258.9% in the third quarter. SG Americas Securities LLC now owns 28,926 shares of the real estate investment trust’s stock valued at $583,000 after buying an additional 20,866 shares in the last quarter. Legal & General Group Plc raised its stake in Piedmont Office Realty Trust by 10.5% in the third quarter. Legal & General Group Plc now owns 507,275 shares of the real estate investment trust’s stock valued at $10,227,000 after buying an additional 48,125 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Piedmont Office Realty Trust in the third quarter valued at $360,000. Institutional investors and hedge funds own 88.19% of the company’s stock.

NYSE:PDM traded up $0.04 during trading hours on Friday, reaching $17.36. 1,154,565 shares of the stock were exchanged, compared to its average volume of 1,493,099. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.87. Piedmont Office Realty Trust has a twelve month low of $16.69 and a twelve month high of $22.72. The stock has a market capitalization of $2,374.46, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 2.60 and a beta of 0.61.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, February 23rd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend was Thursday, February 22nd. Piedmont Office Realty Trust’s payout ratio is currently 48.00%.

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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 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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