Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Free Report) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Friday, May 24th will be given a dividend of 0.125 per share by the real estate investment trust on Friday, June 14th. This represents a $0.50 annualized dividend and a yield of 7.43%. The ex-dividend date is Thursday, May 23rd.
Piedmont Office Realty Trust has decreased its dividend by an average of 7.3% per year over the last three years. Piedmont Office Realty Trust has a payout ratio of -208.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Piedmont Office Realty Trust to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 33.3%.
Piedmont Office Realty Trust Stock Down 2.3 %
NYSE:PDM opened at $6.73 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average is $6.50 and its two-hundred day moving average is $6.46. Piedmont Office Realty Trust has a 1-year low of $4.91 and a 1-year high of $8.05.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.
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