Piedmont Office Realty Trust (NYSE:PDM) Issues Earnings Results

Piedmont Office Realty Trust (NYSE:PDM) released its quarterly earnings results on Monday. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01, Zacks reports. The business had revenue of $136.06 million during the quarter, compared to analysts’ expectations of $141.29 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. Piedmont Office Realty Trust updated its FY 2025 guidance to 1.380-1.440 EPS.

Piedmont Office Realty Trust Stock Down 15.8 %

PDM stock traded down $1.07 during trading on Tuesday, reaching $5.73. The stock had a trading volume of 1,293,588 shares, compared to its average volume of 795,985. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $712.36 million, a P/E ratio of -9.09 and a beta of 1.21. Piedmont Office Realty Trust has a 1-year low of $5.67 and a 1-year high of $11.11. The firm has a fifty day moving average price of $6.98 and a 200 day moving average price of $8.44.

Piedmont Office Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date of this dividend was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is currently -79.37%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Robert W. Baird decreased their target price on shares of Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, February 24th. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Baird R W cut shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Truist Financial reiterated a “buy” rating and set a $10.00 price objective (down previously from $11.00) on shares of Piedmont Office Realty Trust in a report on Tuesday, February 25th.

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.