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 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Down 2.3 %
Shares of PDM opened at $6.73 on Friday. Piedmont Office Realty Trust has a 1 year low of $4.91 and a 1 year high of $8.05. 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 business has a 50-day moving average of $6.50 and a 200-day moving average of $6.46.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd.
View Our Latest Stock Analysis on Piedmont Office Realty Trust
Piedmont Office Realty Trust Company Profile
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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