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

Piedmont Office Realty Trust (NYSE:PDM) will be announcing its earnings results 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.Persons interested in listening to the company’s earnings conference call can do so using this link.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.65). The firm had revenue of $145.33 million for the quarter, compared to the consensus estimate of $146.37 million. Piedmont Office Realty Trust had a negative net margin of 8.38% and a negative return on equity of 2.72%. 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 Stock Performance

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

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.50 annualized dividend and a yield of 7.45%. Piedmont Office Realty Trust’s payout ratio is -125.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research 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.