Piedmont Office Realty Trust (PDM) to Release Quarterly Earnings on Thursday

Piedmont Office Realty Trust (NYSE:PDM) will be announcing its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Piedmont Office Realty Trust has set its FY24 guidance at $1.46-1.52 EPS and its FY 2024 guidance at 1.460-1.520 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.45). The company had revenue of $143.26 million during the quarter, compared to the consensus estimate of $141.25 million. Piedmont Office Realty Trust had a negative net margin of 14.24% and a negative return on equity of 4.84%. On average, analysts expect Piedmont Office Realty Trust to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Piedmont Office Realty Trust Stock Performance

NYSE PDM opened at $10.80 on Tuesday. The firm’s fifty day moving average price is $9.73 and its two-hundred day moving average price is $8.18. The stock has a market cap of $1.34 billion, a PE ratio of -17.67 and a beta of 1.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.40 and a current ratio of 2.40. Piedmont Office Realty Trust has a fifty-two week low of $4.91 and a fifty-two week high of $11.11.

Piedmont Office Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -81.97%.

Analysts Set New Price Targets

Several equities analysts have commented on PDM shares. Truist Financial reiterated a “buy” rating and issued a $11.00 target price (up from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd.

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.