Equities research analysts forecast that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will report sales of $130.99 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Piedmont Office Realty Trust’s earnings, with the lowest sales estimate coming in at $130.73 million and the highest estimate coming in at $131.25 million. Piedmont Office Realty Trust posted sales of $131.69 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.5%. The business is expected to report its next earnings report after the market closes on Wednesday, October 27th.
On average, analysts expect that Piedmont Office Realty Trust will report full year sales of $522.21 million for the current year. For the next financial year, analysts expect that the company will report sales of $544.06 million, with estimates ranging from $542.15 million to $545.97 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Piedmont Office Realty Trust.
Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, July 28th. The real estate investment trust reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. Piedmont Office Realty Trust had a return on equity of 2.68% and a net margin of 9.73%. The firm had revenue of $130.22 million for the quarter, compared to the consensus estimate of $127.57 million.
Piedmont Office Realty Trust stock traded up $0.10 during trading hours on Monday, hitting $18.67. 13,326 shares of the stock traded hands, compared to its average volume of 659,628. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $17.90 and its two-hundred day moving average price is $18.37. Piedmont Office Realty Trust has a one year low of $11.26 and a one year high of $20.35. The company has a market cap of $2.32 billion, a PE ratio of 45.29 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Friday, August 27th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Thursday, August 26th. Piedmont Office Realty Trust’s payout ratio is 44.44%.
In other news, insider Christopher Brent Smith acquired 2,800 shares of Piedmont Office Realty Trust stock in a transaction that occurred on Friday, September 3rd. The shares were bought at an average cost of $17.63 per share, with a total value of $49,364.00. Following the transaction, the insider now directly owns 136,378 shares of the company’s stock, valued at approximately $2,404,344.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.91% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Bbva USA purchased a new stake in Piedmont Office Realty Trust in the 2nd quarter worth about $27,000. Advisory Services Network LLC purchased a new position in shares of Piedmont Office Realty Trust during the second quarter worth approximately $35,000. Lazard Asset Management LLC purchased a new position in shares of Piedmont Office Realty Trust during the first quarter worth approximately $38,000. FORA Capital LLC purchased a new position in shares of Piedmont Office Realty Trust during the second quarter worth approximately $38,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Piedmont Office Realty Trust during the first quarter worth approximately $56,000. 81.03% of the stock is currently owned by institutional investors.
Piedmont Office Realty Trust Company Profile
Piedmont Office Realty Trust, Inc engages in the owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. . Its activities include acquisition, investment, development, management, disposing, and ownership of commercial real estate properties throughout the United States.
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