Piedmont Office Realty Trust, Inc. (PDM) to Issue Quarterly Dividend of $0.13 on January 2nd

Piedmont Office Realty Trust, Inc. (NYSE:PDM) declared a quarterly dividend on Thursday, October 24th,NASDAQ Dividends reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.125 per share by the real estate investment trust on Thursday, January 2nd. This represents a $0.50 annualized dividend and a yield of 5.31%. The ex-dividend date is Friday, November 22nd.

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 dividend payout ratio of -500.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Piedmont Office Realty Trust to earn $1.48 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 33.8%.

Piedmont Office Realty Trust Stock Up 1.1 %

Shares of NYSE PDM opened at $9.41 on Wednesday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -15.18 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.22 and a quick ratio of 2.22. Piedmont Office Realty Trust has a 1 year low of $5.78 and a 1 year high of $11.11. The business has a 50-day moving average of $10.07 and a two-hundred day moving average of $8.71.

Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.46). Piedmont Office Realty Trust had a negative net margin of 13.47% and a negative return on equity of 4.61%. The company had revenue of $139.29 million during the quarter, compared to analysts’ expectations of $143.56 million. During the same quarter last year, the business posted $0.43 earnings per share. On average, analysts forecast that Piedmont Office Realty Trust will post 1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on PDM. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial reaffirmed a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a report on Wednesday, August 14th. Finally, Robert W. Baird upped their target price on shares of Piedmont Office Realty Trust from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

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.