Piedmont Office Realty Trust, Inc. (NYSE:PDM) – Stock analysts at SunTrust Banks cut their FY2020 earnings estimates for shares of Piedmont Office Realty Trust in a research note issued to investors on Thursday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings per share of $1.83 for the year, down from their prior estimate of $1.85. SunTrust Banks also issued estimates for Piedmont Office Realty Trust’s FY2021 earnings at $1.86 EPS.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.44 by $0.34. Piedmont Office Realty Trust had a net margin of 19.89% and a return on equity of 5.26%. The business had revenue of $148.50 million for the quarter, compared to analyst estimates of $145.35 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. WARNING: This piece was reported by Stock Observer and is the sole property of of Stock Observer. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.thestockobserver.com/2017/06/20/research-analysts-offer-predictions-for-piedmont-office-realty-trust-inc-s-fy2020-earnings-pdm.html.
PDM has been the subject of several other reports. Zacks Investment Research downgraded Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, May 5th. BidaskClub raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th.
Shares of Piedmont Office Realty Trust (NYSE:PDM) traded down 1.07% during mid-day trading on Monday, reaching $21.23. 157,873 shares of the company’s stock traded hands. The firm’s 50-day moving average is $21.43 and its 200 day moving average is $21.48. Piedmont Office Realty Trust has a one year low of $18.61 and a one year high of $23.08. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 29.53 and a beta of 0.61.
A number of large investors have recently added to or reduced their stakes in PDM. James Investment Research Inc. acquired a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $141,000. Advisory Services Network LLC acquired a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $141,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $164,000. SG Americas Securities LLC increased its stake in Piedmont Office Realty Trust by 31.5% in the first quarter. SG Americas Securities LLC now owns 7,696 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 1,843 shares during the period. Finally, TLP Group LLC acquired a new stake in Piedmont Office Realty Trust during the first quarter worth approximately $177,000. 86.79% of the stock is owned by institutional investors.
In other Piedmont Office Realty Trust news, CAO Laura P. Moon sold 7,800 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $21.64, for a total value of $168,792.00. Following the completion of the sale, the chief accounting officer now owns 24,620 shares of the company’s stock, valued at $532,776.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 26th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Wednesday, May 24th. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 109.09%.
About Piedmont Office Realty Trust
Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.
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