Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Free Report) 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.
Analyst Ratings Changes
Separately, StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday.
Get Our Latest Stock Report on Piedmont Office Realty Trust
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.
Read More
- Five stocks we like better than Piedmont Office Realty Trust
- What is Insider Trading? What You Can Learn from Insider Trading
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- Insider Trades May Not Tell You What You Think
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- What Are Dividend Champions? How to Invest in the Champions
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
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.