Wall Street analysts forecast that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will post sales of $127.24 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Piedmont Office Realty Trust’s earnings. The highest sales estimate is $129.53 million and the lowest is $122.10 million. Piedmont Office Realty Trust reported sales of $137.59 million in the same quarter last year, which indicates a negative year over year growth rate of 7.5%. The business is expected to announce its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Piedmont Office Realty Trust will report full year sales of $512.72 million for the current financial year, with estimates ranging from $502.53 million to $517.69 million. For the next year, analysts forecast that the business will report sales of $512.51 million, with estimates ranging from $495.57 million to $535.73 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $129.17 million for the quarter, compared to the consensus estimate of $125.15 million. Piedmont Office Realty Trust had a net margin of 30.50% and a return on equity of 2.81%. During the same quarter in the previous year, the firm earned $0.46 earnings per share.

Several equities research analysts recently weighed in on PDM shares. DA Davidson upgraded shares of Piedmont Office Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $23.00 in a research note on Friday, June 29th. TheStreet cut shares of Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a research report on Monday, October 8th. Finally, ValuEngine upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $21.25.

A number of institutional investors have recently added to or reduced their stakes in PDM. Point72 Hong Kong Ltd purchased a new position in shares of Piedmont Office Realty Trust during the second quarter valued at $110,000. Assetmark Inc. grew its stake in Piedmont Office Realty Trust by 2,017.2% in the first quarter. Assetmark Inc. now owns 6,521 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 6,213 shares during the last quarter. NumerixS Investment Technologies Inc grew its stake in Piedmont Office Realty Trust by 151.9% in the second quarter. NumerixS Investment Technologies Inc now owns 6,800 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 4,100 shares during the last quarter. First Hawaiian Bank purchased a new position in Piedmont Office Realty Trust in the third quarter valued at about $161,000. Finally, Titus Wealth Management purchased a new position in Piedmont Office Realty Trust in the second quarter valued at about $215,000. 86.52% of the stock is owned by institutional investors.

Shares of NYSE PDM traded down $0.03 during mid-day trading on Friday, hitting $18.39. The company had a trading volume of 22,284 shares, compared to its average volume of 1,187,569. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.07 and a current ratio of 2.07. Piedmont Office Realty Trust has a 12 month low of $16.69 and a 12 month high of $20.57. The stock has a market cap of $2.43 billion, a PE ratio of 10.53, a PEG ratio of 2.78 and a beta of 0.60.

The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, August 31st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, August 30th. Piedmont Office Realty Trust’s dividend payout ratio is 48.00%.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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Earnings History and Estimates for Piedmont Office Realty Trust (NYSE:PDM)

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