Piedmont Office Realty Trust (PDM) to Release Quarterly Earnings on Tuesday

Piedmont Office Realty Trust (NYSE:PDM) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.40 per share for the quarter. Piedmont Office Realty Trust has set its FY24 guidance at $1.46-1.56 EPS and its FY 2024 guidance at 1.460-1.560 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.65). The business had revenue of $145.33 million for the quarter, compared to analyst estimates of $146.37 million. Piedmont Office Realty Trust had a negative return on equity of 2.72% and a negative net margin of 8.38%. On average, analysts expect Piedmont Office Realty Trust to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Piedmont Office Realty Trust Price Performance

Piedmont Office Realty Trust stock opened at $6.71 on Monday. The firm has a market cap of $831.29 million, a PE ratio of -16.78 and a beta of 1.15. Piedmont Office Realty Trust has a 52-week low of $4.91 and a 52-week high of $8.05. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $6.50 and its two-hundred day moving average is $6.49.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.125 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.50 dividend on an annualized basis and a yield of 7.45%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -125.00%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd.

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.