Piedmont Office Realty Trust (PDM) to Release Quarterly Earnings on Thursday

Piedmont Office Realty Trust (NYSE:PDM) will be releasing its earnings data after the market closes on Thursday, October 24th. Analysts expect Piedmont Office Realty Trust to post earnings of $0.37 per share for the quarter. Piedmont Office Realty Trust has set its FY24 guidance at $1.46-1.52 EPS and its FY 2024 guidance at 1.460-1.520 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.45). Piedmont Office Realty Trust had a negative net margin of 14.24% and a negative return on equity of 4.84%. The business had revenue of $143.26 million during the quarter, compared to analysts’ expectations of $141.25 million. On average, analysts expect Piedmont Office Realty Trust to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Piedmont Office Realty Trust Stock Up 2.0 %

Piedmont Office Realty Trust stock opened at $10.82 on Thursday. The firm has a market capitalization of $1.34 billion, a P/E ratio of -17.73 and a beta of 1.22. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.34. Piedmont Office Realty Trust has a twelve month low of $4.91 and a twelve month high of $10.85. The stock’s fifty day simple moving average is $9.64 and its 200-day simple moving average is $8.11.

Piedmont Office Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.125 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.50 annualized dividend and a yield of 4.62%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -81.97%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial reissued a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd.

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.