Wall Street analysts expect Piedmont Office Realty Trust, Inc. (NYSE:PDM) to announce $0.49 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Piedmont Office Realty Trust’s earnings. Piedmont Office Realty Trust reported earnings per share of $0.48 during the same quarter last year, which indicates a positive year-over-year growth rate of 2.1%. The company is scheduled to report its next earnings report after the market closes on Wednesday, October 27th.
According to Zacks, analysts expect that Piedmont Office Realty Trust will report full year earnings of $1.95 per share for the current year, with EPS estimates ranging from $1.94 to $1.95. For the next financial year, analysts expect that the firm will report earnings of $2.02 per share, with EPS estimates ranging from $2.00 to $2.04. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, July 28th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04. Piedmont Office Realty Trust had a return on equity of 2.68% and a net margin of 9.73%. The firm had revenue of $130.22 million for the quarter, compared to analysts’ expectations of $127.57 million.
In other news, insider Christopher Brent Smith acquired 2,800 shares of the firm’s stock in a transaction on Friday, September 3rd. The stock was acquired at an average price of $17.63 per share, with a total value of $49,364.00. Following the completion of the purchase, the insider now directly owns 136,378 shares in the company, valued at $2,404,344.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bbva USA acquired a new stake in shares of Piedmont Office Realty Trust during the second quarter worth $27,000. Advisory Services Network LLC purchased a new stake in shares of Piedmont Office Realty Trust during the second quarter worth about $35,000. Lazard Asset Management LLC purchased a new stake in shares of Piedmont Office Realty Trust during the first quarter worth about $38,000. FORA Capital LLC purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter valued at about $38,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Piedmont Office Realty Trust during the 1st quarter valued at about $56,000. 81.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of PDM stock traded up $0.10 during trading on Friday, reaching $18.67. 13,326 shares of the company’s stock were exchanged, compared to its average volume of 659,628. The firm’s fifty day moving average price is $17.90 and its 200-day moving average price is $18.37. The stock has a market capitalization of $2.32 billion, a PE ratio of 45.29 and a beta of 1.04. Piedmont Office Realty Trust has a twelve month low of $11.26 and a twelve month high of $20.35. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.89.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, August 27th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 26th. This represents a $0.84 annualized dividend and a dividend yield of 4.50%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is 44.44%.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc engages in the owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. . Its activities include acquisition, investment, development, management, disposing, and ownership of commercial real estate properties throughout the United States.
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