Analysts Expect Piedmont Office Realty Trust, Inc. (NYSE:PDM) Will Announce Quarterly Sales of $127.20 Million
Equities research analysts expect that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will post sales of $127.20 million for the current quarter, according to Zacks. Three analysts have issued estimates for Piedmont Office Realty Trust’s earnings, with the highest sales estimate coming in at $130.33 million and the lowest estimate coming in at $122.69 million. Piedmont Office Realty Trust reported sales of $129.71 million during the same quarter last year, which indicates a negative year over year growth rate of 1.9%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that Piedmont Office Realty Trust will report full-year sales of $516.01 million for the current financial year, with estimates ranging from $504.57 million to $525.10 million. For the next fiscal year, analysts expect that the firm will post sales of $530.68 million, with estimates ranging from $519.62 million to $542.69 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Piedmont Office Realty Trust.
Several brokerages have weighed in on PDM. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday. DA Davidson lowered shares of Piedmont Office Realty Trust from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.
Shares of PDM traded up $0.44 during mid-day trading on Friday, reaching $19.65. The stock had a trading volume of 659,600 shares, compared to its average volume of 759,390. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.96 and a current ratio of 1.96. Piedmont Office Realty Trust has a 52-week low of $16.43 and a 52-week high of $21.40. The company has a fifty day moving average of $20.11. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 11.32 and a beta of 0.69.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Thursday, August 29th. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently 48.55%.
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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