Piedmont Office Realty Trust, Inc. (NYSE:PDM) Announces $0.21 Quarterly Dividend

Piedmont Office Realty Trust, Inc. (NYSE:PDM) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.21 per share by the real estate investment trust on Friday, January 3rd. This represents a $0.84 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Wednesday, November 27th.

NYSE PDM opened at $21.38 on Monday. The company has a market cap of $2.68 billion, a P/E ratio of 12.36 and a beta of 0.68. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.48 and a current ratio of 1.48. The business’s 50 day moving average price is $21.25 and its 200-day moving average price is $20.56. Piedmont Office Realty Trust has a fifty-two week low of $16.43 and a fifty-two week high of $22.58.

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Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.38). The company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $127.16 million. Piedmont Office Realty Trust had a net margin of 20.92% and a return on equity of 6.58%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. As a group, equities analysts predict that Piedmont Office Realty Trust will post 1.78 EPS for the current year.

Several equities analysts have recently weighed in on PDM shares. ValuEngine downgraded Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. TheStreet raised Piedmont Office Realty Trust from a “c+” rating to a “b-” rating in a research report on Friday, November 15th. Robert W. Baird set a $25.00 target price on Piedmont Office Realty Trust and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $23.33.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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