Wall Street analysts expect that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will post earnings per share of $0.45 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Piedmont Office Realty Trust’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.44. Piedmont Office Realty Trust posted earnings per share of $0.41 in the same quarter last year, which indicates a positive year over year growth rate of 9.8%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, May 1st.
On average, analysts expect that Piedmont Office Realty Trust will report full-year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.79. For the next financial year, analysts expect that the firm will report earnings of $1.85 per share, with EPS estimates ranging from $1.81 to $1.88. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Tuesday, February 5th. The real estate investment trust reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.09). The business had revenue of $137.20 million during the quarter, compared to analysts’ expectations of $125.41 million. Piedmont Office Realty Trust had a net margin of 24.77% and a return on equity of 7.47%. Piedmont Office Realty Trust’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS.
A number of equities research analysts have recently commented on PDM shares. Zacks Investment Research downgraded Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Robert W. Baird downgraded Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 8th. Finally, Stifel Nicolaus raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating and lifted their price objective for the company from $16.00 to $20.00 in a research report on Thursday, February 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Piedmont Office Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $22.33.
Shares of NYSE:PDM traded up $0.11 during midday trading on Tuesday, reaching $20.51. The company’s stock had a trading volume of 663,163 shares, compared to its average volume of 707,919. The company has a market cap of $2.58 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.93 and a beta of 0.81. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.98. Piedmont Office Realty Trust has a 1 year low of $16.43 and a 1 year high of $21.35.
A number of hedge funds have recently bought and sold shares of PDM. Great West Life Assurance Co. Can grew its position in Piedmont Office Realty Trust by 4.2% during the third quarter. Great West Life Assurance Co. Can now owns 84,679 shares of the real estate investment trust’s stock valued at $1,603,000 after acquiring an additional 3,421 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Piedmont Office Realty Trust by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,158 shares of the real estate investment trust’s stock valued at $55,203,000 after buying an additional 834,192 shares during the period. Jane Street Group LLC acquired a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at approximately $397,000. Paloma Partners Management Co acquired a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at approximately $444,000. Finally, Caxton Associates LP acquired a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at approximately $195,000. 85.31% 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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