Piedmont Office Realty Trust (PDM) Declares Quarterly Dividend of $0.20
Piedmont Office Realty Trust (NYSE:PDM) announced a quarterly dividend on Tuesday, March 5th. Investors of record on Monday, March 11th will be paid a dividend of $0.20 per share on Friday, March 22nd. This represents a $0.80 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, March 7th.
A number of analysts have recently weighed in on PDM shares. Analysts at TheStreet upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, February 13th. On a related note, analysts at RBC Capital downgraded shares of Piedmont Office Realty Trust from an “outperform” rating to an “underperform” rating in a research note to investors on Tuesday, February 12th. They now have a $18.00 price target on the stock, down previously from $20.00. Finally, analysts at JPMorgan Chase upgraded shares of Piedmont Office Realty Trust from a “neutral” rating to an “overweight” rating in a research note to investors on Wednesday, January 16th. They now have a $21.00 price target on the stock, up previously from $19.00.
One research analyst has rated the stock with a buy rating, one has given an overweight rating, three have assigned a hold rating, and two have issued a sell rating to the stock. The company has a consensus rating of “hold” and a consensus target price of $19.20.
Shares of Piedmont Office Realty Trust (PDM) traded up 1.27% during mid-day trading on Tuesday, hitting $19.97. Piedmont Office Realty Trust (PDM) has a one year low of $14.62 and a one year high of $20.00. The stock’s 50-day moving average is currently $19.35. The company has a market cap of $3.346 billion and a P/E ratio of 36.05.
Piedmont Office Realty Trust, Inc. (Piedmont) is a real estate investment trust (REIT). The Company is engaged in the acquisition and ownership of commercial real estate properties throughout the United States, including properties that are under construction, newly constructed, or have operating histories.
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