Piedmont Office Realty Trust, Inc. (NYSE:PDM) declared a quarterly dividend on Tuesday, October 31st, Zacks reports. Shareholders of record on Friday, November 24th will be paid a dividend of 0.21 per share by the real estate investment trust on Thursday, January 4th. This represents a $0.84 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Wednesday, November 22nd.

Piedmont Office Realty Trust has decreased its dividend by an average of 7.7% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Piedmont Office Realty Trust has a dividend payout ratio of 48.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Piedmont Office Realty Trust to earn $1.69 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 49.7%.

Piedmont Office Realty Trust (NYSE PDM) traded up $0.22 during trading hours on Friday, hitting $20.18. The company had a trading volume of 676,300 shares, compared to its average volume of 711,009. Piedmont Office Realty Trust has a 12-month low of $18.87 and a 12-month high of $23.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market capitalization of $2,880.22, a PE ratio of 11.27, a PEG ratio of 2.86 and a beta of 0.62.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $137.59 million during the quarter, compared to analyst estimates of $140.39 million. Piedmont Office Realty Trust had a return on equity of 4.06% and a net margin of 33.72%. During the same period last year, the business posted $0.41 earnings per share. sell-side analysts forecast that Piedmont Office Realty Trust will post 1.75 EPS for the current year.

A number of analysts have recently commented on the company. BidaskClub cut Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. ValuEngine raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 target price on shares of Piedmont Office Realty Trust in a research note on Friday, November 3rd. Finally, Robert W. Baird upgraded 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 report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $22.33.

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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.

Dividend History for Piedmont Office Realty Trust (NYSE:PDM)

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