Piedmont Office Realty Trust, Inc. to Post Q3 2017 Earnings of $0.41 Per Share, SunTrust Banks Forecasts (PDM)

Piedmont Office Realty Trust, Inc. (NYSE:PDM) – SunTrust Banks cut their Q3 2017 earnings estimates for shares of Piedmont Office Realty Trust in a research report issued on Thursday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $0.41 per share for the quarter, down from their prior forecast of $0.42. SunTrust Banks also issued estimates for Piedmont Office Realty Trust’s Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $1.73 EPS and FY2019 earnings at $1.78 EPS.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.34. Piedmont Office Realty Trust had a net margin of 19.89% and a return on equity of 5.26%. The company had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $145.35 million. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this report on another site, it was stolen and republished in violation of United States & international copyright & trademark law. The original version of this report can be viewed at https://www.wkrb13.com/markets/2229470/piedmont-office-realty-trust-inc-to-post-q3-2017-earnings-of-0-41-per-share-suntrust-banks-forecasts-pdm.html.

Earnings History and Estimates for Piedmont Office Realty Trust (NYSE:PDM)

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Saturday, May 6th. BidaskClub raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday.

Shares of Piedmont Office Realty Trust (PDM) opened at 21.34 on Friday. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 29.68 and a beta of 0.61. Piedmont Office Realty Trust has a 12-month low of $18.61 and a 12-month high of $23.08. The company’s 50-day moving average price is $21.45 and its 200 day moving average price is $21.44.

Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Piedmont Office Realty Trust by 3,921.0% in the first quarter. BlackRock Inc. now owns 9,609,860 shares of the real estate investment trust’s stock valued at $205,459,000 after buying an additional 9,370,868 shares during the period. Norges Bank bought a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at $29,672,000. Systematic Financial Management LP increased its stake in shares of Piedmont Office Realty Trust by 374.8% in the first quarter. Systematic Financial Management LP now owns 1,492,017 shares of the real estate investment trust’s stock valued at $31,899,000 after buying an additional 1,177,792 shares during the period. Vanguard Group Inc. increased its stake in shares of Piedmont Office Realty Trust by 2.3% in the first quarter. Vanguard Group Inc. now owns 23,021,266 shares of the real estate investment trust’s stock valued at $492,194,000 after buying an additional 511,212 shares during the period. Finally, LSV Asset Management increased its stake in shares of Piedmont Office Realty Trust by 3.8% in the first quarter. LSV Asset Management now owns 6,705,681 shares of the real estate investment trust’s stock valued at $143,367,000 after buying an additional 246,000 shares during the period. Institutional investors own 86.85% of the company’s stock.

In related news, CAO Laura P. Moon sold 7,800 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $21.64, for a total value of $168,792.00. Following the sale, the chief accounting officer now owns 24,620 shares in the company, valued at approximately $532,776.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is currently owned by insiders.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, May 26th were issued a $0.21 dividend. The ex-dividend date was Wednesday, May 24th. This represents a $0.84 annualized dividend and a dividend yield of 3.94%. Piedmont Office Realty Trust’s dividend payout ratio is presently 109.09%.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2229470/piedmont-office-realty-trust-inc-to-post-q3-2017-earnings-of-0-41-per-share-suntrust-banks-forecasts-pdm.html

Receive News & Ratings for Piedmont Office Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.