Piedmont Office Realty Trust, Inc. (NYSE:PDM – Get Free Report) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Friday, May 24th will be paid a dividend of 0.125 per share by the real estate investment trust on Friday, June 14th. This represents a $0.50 annualized dividend and a dividend yield of 7.43%. The ex-dividend date is Thursday, May 23rd.
Piedmont Office Realty Trust has decreased its dividend payment by an average of 7.3% annually over the last three years. Piedmont Office Realty Trust has a payout ratio of -208.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Piedmont Office Realty Trust to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 33.3%.
Piedmont Office Realty Trust Stock Performance
Shares of Piedmont Office Realty Trust stock opened at $6.73 on Friday. The company’s fifty day simple moving average is $6.50 and its 200-day simple moving average is $6.46. Piedmont Office Realty Trust has a 1-year low of $4.91 and a 1-year high of $8.05. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.19.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd.
Read Our Latest Analysis on PDM
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.
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