Piedmont Office Realty Trust, Inc. (NYSE:PDM) Announces Quarterly Dividend of $0.13

Piedmont Office Realty Trust, Inc. (NYSE:PDM) declared a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Stockholders of record on Friday, August 23rd will be paid a dividend of 0.125 per share by the real estate investment trust on Friday, September 20th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend is Friday, August 23rd.

Piedmont Office Realty Trust has decreased its dividend by an average of 7.3% annually over the last three years. Piedmont Office Realty Trust has a payout ratio of -833.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Shares of Piedmont Office Realty Trust stock traded up $0.37 on Friday, hitting $8.74. The company’s stock had a trading volume of 785,497 shares, compared to its average volume of 909,766. The company has a market capitalization of $1.08 billion, a P/E ratio of -14.33 and a beta of 1.21. Piedmont Office Realty Trust has a 52-week low of $4.91 and a 52-week high of $8.78. The firm has a fifty day moving average price of $7.42 and a 200-day moving average price of $6.97. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.23.

Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.61). The business had revenue of $144.54 million during the quarter, compared to analysts’ expectations of $143.41 million. Piedmont Office Realty Trust had a negative net margin of 12.90% and a negative return on equity of 4.29%. On average, equities research analysts expect that Piedmont Office Realty Trust will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday.

Piedmont Office Realty Trust Company Profile

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.