Piedmont Office Realty Trust, Inc. (NYSE:PDM) – Equities research analysts at SunTrust Banks boosted their FY2020 earnings per share estimates for shares of Piedmont Office Realty Trust in a report released on Tuesday, February 11th. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $1.98 per share for the year, up from their previous estimate of $1.89. SunTrust Banks has a “Buy” rating and a $24.00 price objective on the stock.
Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.84. Piedmont Office Realty Trust had a return on equity of 13.47% and a net margin of 43.00%. The business had revenue of $134.20 million during the quarter, compared to analysts’ expectations of $134.23 million. During the same period in the previous year, the business earned $0.45 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year.
Shares of NYSE:PDM opened at $24.31 on Friday. Piedmont Office Realty Trust has a 52-week low of $19.18 and a 52-week high of $24.78. The stock has a market cap of $3.03 billion, a P/E ratio of 13.36 and a beta of 0.70. The business has a fifty day moving average of $23.00 and a two-hundred day moving average of $21.44. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.12.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 28th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Thursday, February 27th. Piedmont Office Realty Trust’s payout ratio is currently 46.93%.
Several institutional investors have recently made changes to their positions in the company. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Piedmont Office Realty Trust during the third quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. raised its position in Piedmont Office Realty Trust by 52.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,400 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 484 shares during the period. Sterling Investment Advisors Ltd. purchased a new stake in Piedmont Office Realty Trust in the 4th quarter worth about $38,000. Prime Capital Investment Advisors LLC lifted its stake in Piedmont Office Realty Trust by 38.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,890 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 520 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC acquired a new stake in Piedmont Office Realty Trust during the 4th quarter worth about $39,000. 84.37% of the stock is owned by institutional investors and hedge funds.
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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