Piedmont Office Realty Trust, Inc. (NYSE:PDM) Expected to Announce Quarterly Sales of $132.80 Million

Wall Street brokerages forecast that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will post $132.80 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Piedmont Office Realty Trust’s earnings, with estimates ranging from $132.00 million to $133.60 million. Piedmont Office Realty Trust posted sales of $131.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 1%. The company is scheduled to announce its next earnings report on Wednesday, February 9th.

On average, analysts expect that Piedmont Office Realty Trust will report full-year sales of $522.22 million for the current financial year, with estimates ranging from $522.21 million to $522.23 million. For the next fiscal year, analysts anticipate that the firm will post sales of $549.72 million, with estimates ranging from $542.15 million to $557.28 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results on Wednesday, October 27th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $131.10 million during the quarter, compared to analyst estimates of $130.87 million. Piedmont Office Realty Trust had a net margin of 10.19% and a return on equity of 2.83%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS.

A number of research firms have recently weighed in on PDM. TheStreet downgraded shares of Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a report on Friday, July 30th. Zacks Investment Research downgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 26th.

Shares of Piedmont Office Realty Trust stock traded down $0.15 during midday trading on Thursday, reaching $18.72. 727,575 shares of the company’s stock traded hands, compared to its average volume of 656,204. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 43.53 and a beta of 0.99. The company’s 50 day simple moving average is $18.30 and its 200 day simple moving average is $18.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.36 and a current ratio of 2.36. Piedmont Office Realty Trust has a 52 week low of $15.10 and a 52 week high of $20.35.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 4th. Investors of record on Friday, November 26th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, November 24th. This represents a $0.84 annualized dividend and a yield of 4.49%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 195.35%.

In other news, insider Christopher Brent Smith bought 2,800 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The shares were purchased at an average price of $17.63 per share, for a total transaction of $49,364.00. Following the acquisition, the insider now directly owns 136,378 shares of the company’s stock, valued at approximately $2,404,344.14. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC grew its position in Piedmont Office Realty Trust by 0.7% in the 3rd quarter. Voya Investment Management LLC now owns 80,964 shares of the real estate investment trust’s stock worth $1,411,000 after purchasing an additional 537 shares during the last quarter. CWM Advisors LLC grew its position in Piedmont Office Realty Trust by 3.1% in the 2nd quarter. CWM Advisors LLC now owns 24,420 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 740 shares during the last quarter. Van ECK Associates Corp grew its position in Piedmont Office Realty Trust by 15.6% in the 3rd quarter. Van ECK Associates Corp now owns 5,783 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 781 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Piedmont Office Realty Trust by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 63,079 shares of the real estate investment trust’s stock worth $1,165,000 after purchasing an additional 1,160 shares during the last quarter. Finally, US Bancorp DE grew its position in Piedmont Office Realty Trust by 4.0% in the 3rd quarter. US Bancorp DE now owns 30,881 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 1,189 shares during the last quarter. Institutional investors own 82.12% of the company’s stock.

About Piedmont Office Realty Trust

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

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