Piedmont Office Realty Trust, Inc. (NYSE:PDM) Expected to Post Quarterly Sales of $131.24 Million

Wall Street analysts predict that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will report sales of $131.24 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Piedmont Office Realty Trust’s earnings, with estimates ranging from $123.85 million to $135.42 million. Piedmont Office Realty Trust reported sales of $137.19 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.3%. The company is scheduled to issue its next earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Piedmont Office Realty Trust will report full year sales of $525.58 million for the current fiscal year, with estimates ranging from $508.80 million to $534.45 million. For the next financial year, analysts expect that the company will post sales of $536.00 million, with estimates ranging from $509.38 million to $553.63 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.38). Piedmont Office Realty Trust had a return on equity of 6.58% and a net margin of 20.92%. The company had revenue of $135.46 million for the quarter, compared to analyst estimates of $127.16 million. During the same period last year, the firm posted $0.45 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis.

A number of equities analysts recently issued reports on the stock. Robert W. Baird set a $25.00 target price on shares of Piedmont Office Realty Trust and gave the stock a “hold” rating in a research report on Wednesday, August 21st. ValuEngine lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. TheStreet raised Piedmont Office Realty Trust from a “c+” rating to a “b-” rating in a report on Friday, November 15th. SunTrust Banks raised their target price on Piedmont Office Realty Trust from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Finally, Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Piedmont Office Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $23.50.

A number of institutional investors have recently added to or reduced their stakes in PDM. Prime Capital Investment Advisors LLC purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter valued at about $27,000. Garrett Wealth Advisory Group LLC bought a new stake in shares of Piedmont Office Realty Trust in the 3rd quarter valued at about $30,000. Personal Wealth Partners purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter valued at about $36,000. Neo Ivy Capital Management purchased a new stake in Piedmont Office Realty Trust during the 2nd quarter valued at about $53,000. Finally, New York State Teachers Retirement System bought a new position in Piedmont Office Realty Trust during the 2nd quarter worth approximately $60,000. Institutional investors own 86.22% of the company’s stock.

Shares of PDM traded down $0.06 during mid-day trading on Monday, hitting $22.19. The company’s stock had a trading volume of 18,588 shares, compared to its average volume of 717,040. The stock’s 50-day moving average is $21.61 and its two-hundred day moving average is $20.63. The firm has a market capitalization of $2.78 billion, a PE ratio of 12.83 and a beta of 0.68. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.48 and a current ratio of 1.48. Piedmont Office Realty Trust has a one year low of $16.43 and a one year high of $22.58.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, November 29th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.84 annualized dividend and a dividend yield of 3.79%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 48.55%.

About Piedmont Office Realty Trust

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.

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

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