Piedmont Office Realty Trust (PDM) Scheduled to Post Quarterly Earnings on Thursday

Piedmont Office Realty Trust (NYSE:PDM) is set to announce its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Piedmont Office Realty Trust has set its FY24 guidance at $1.46-1.52 EPS and its FY 2024 guidance at 1.460-1.520 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.45). The company had revenue of $143.26 million for the quarter, compared to analysts’ expectations of $141.25 million. Piedmont Office Realty Trust had a negative return on equity of 4.84% and a negative net margin of 14.24%. On average, analysts expect Piedmont Office Realty Trust to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Piedmont Office Realty Trust Trading Up 2.0 %

Shares of PDM opened at $10.82 on Thursday. Piedmont Office Realty Trust has a 12-month low of $4.91 and a 12-month high of $10.85. The firm has a market capitalization of $1.34 billion, a P/E ratio of -17.73 and a beta of 1.22. The firm has a 50-day moving average price of $9.64 and a 200 day moving average price of $8.11. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.34.

Piedmont Office Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.50 annualized dividend and a dividend yield of 4.62%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is -81.97%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com upgraded Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial reaffirmed a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th.

About Piedmont Office Realty Trust

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.