Piedmont Office Realty Trust (PDM) Earns Daily Coverage Optimism Rating of 0.15
News coverage about Piedmont Office Realty Trust (NYSE:PDM) has trended somewhat positive recently, according to Accern. The research group identifies negative and positive media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Piedmont Office Realty Trust earned a media sentiment score of 0.15 on Accern’s scale. Accern also gave media coverage about the real estate investment trust an impact score of 46.8603449484765 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
PDM has been the subject of several recent research reports. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, October 11th. ValuEngine raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 price target on shares of Piedmont Office Realty Trust in a research note on Friday, November 3rd. Finally, Robert W. Baird raised Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $23.00 to $24.00 in a research note on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Piedmont Office Realty Trust presently has a consensus rating of “Hold” and an average price target of $22.33.
Piedmont Office Realty Trust (NYSE:PDM) traded down $0.39 on Monday, reaching $19.51. The company had a trading volume of 638,300 shares, compared to its average volume of 714,104. Piedmont Office Realty Trust has a 12-month low of $19.10 and a 12-month high of $23.08. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.78. The firm has a market cap of $2,873.00, a price-to-earnings ratio of 14.56, a P/E/G ratio of 2.84 and a beta of 0.63.
Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. Piedmont Office Realty Trust had a return on equity of 23.80% and a net margin of 12.08%. The firm had revenue of $137.59 million during the quarter, compared to analyst estimates of $140.39 million. During the same period in the previous year, the company earned $0.41 EPS. research analysts expect that Piedmont Office Realty Trust will post 1.75 EPS for the current year.
The business also recently announced a None dividend, which will be paid on Tuesday, January 9th. Investors of record on Tuesday, December 26th will be issued a $0.50 dividend. This is a positive change from Piedmont Office Realty Trust’s previous None dividend of $0.21. This represents a yield of 4.16%. The ex-dividend date is Friday, December 22nd. Piedmont Office Realty Trust’s payout ratio is 62.69%.
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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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