Brokerages Anticipate Piedmont Office Realty Trust, Inc. (NYSE:PDM) to Announce $0.43 Earnings Per Share

Brokerages expect that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will announce earnings per share (EPS) of $0.43 for the current quarter, according to Zacks. Four analysts have made estimates for Piedmont Office Realty Trust’s earnings, with estimates ranging from $0.42 to $0.45. Piedmont Office Realty Trust reported earnings of $0.41 per share in the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Piedmont Office Realty Trust will report full year earnings of $1.78 per share for the current year, with EPS estimates ranging from $1.75 to $1.80. For the next fiscal year, analysts expect that the company will post earnings of $1.84 per share, with EPS estimates ranging from $1.83 to $1.86. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.05). Piedmont Office Realty Trust had a net margin of 23.19% and a return on equity of 7.10%. The business had revenue of $132.90 million for the quarter, compared to the consensus estimate of $120.78 million. During the same period in the prior year, the business posted $0.43 EPS. Piedmont Office Realty Trust’s revenue for the quarter was up 2.3% on a year-over-year basis.

Separately, Zacks Investment Research downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $22.33.

Shares of NYSE PDM opened at $20.07 on Friday. Piedmont Office Realty Trust has a fifty-two week low of $16.43 and a fifty-two week high of $21.40. The firm’s 50 day simple moving average is $20.61. The company has a market capitalization of $2.58 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.93 and a beta of 0.74. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.91.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 31st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Thursday, May 30th. Piedmont Office Realty Trust’s dividend payout ratio is 48.55%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. AJO LP increased its stake in shares of Piedmont Office Realty Trust by 1,921.3% during the first quarter. AJO LP now owns 526,338 shares of the real estate investment trust’s stock valued at $10,974,000 after purchasing an additional 500,298 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Piedmont Office Realty Trust by 905.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 773,060 shares of the real estate investment trust’s stock valued at $13,170,000 after acquiring an additional 696,196 shares in the last quarter. Boston Partners increased its position in shares of Piedmont Office Realty Trust by 166.0% during the fourth quarter. Boston Partners now owns 269,060 shares of the real estate investment trust’s stock valued at $4,585,000 after acquiring an additional 167,910 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $273,000. Finally, Rhumbline Advisers increased its position in shares of Piedmont Office Realty Trust by 32.1% during the fourth quarter. Rhumbline Advisers now owns 207,006 shares of the real estate investment trust’s stock valued at $3,527,000 after acquiring an additional 50,298 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust Company Profile

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.

Featured Story: What is dollar cost averaging (DCA)?

Get a free copy of the Zacks research report on Piedmont Office Realty Trust (PDM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Piedmont Office Realty Trust (NYSE:PDM)

Receive News & Ratings for Piedmont Office Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.