Zacks: Analysts Anticipate Piedmont Office Realty Trust, Inc. (PDM) Will Post Quarterly Sales of $140.39 Million

Equities analysts forecast that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will announce $140.39 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Piedmont Office Realty Trust’s earnings, with the lowest sales estimate coming in at $136.33 million and the highest estimate coming in at $146.90 million. Piedmont Office Realty Trust posted sales of $138.49 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 7th.

According to Zacks, analysts expect that Piedmont Office Realty Trust will report full-year sales of $140.39 million for the current financial year, with estimates ranging from $568.21 million to $589.29 million. For the next fiscal year, analysts expect that the company will report sales of $553.89 million per share, with estimates ranging from $515.60 million to $576.18 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $148.70 million during the quarter, compared to analysts’ expectations of $147.66 million. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. Piedmont Office Realty Trust’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS.

PDM has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. ValuEngine downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, July 5th. Robert W. Baird raised shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $23.00 to $24.00 in a report on Monday, August 28th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $21.00 price target on shares of Piedmont Office Realty Trust in a report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Piedmont Office Realty Trust has an average rating of “Hold” and a consensus target price of $22.67.

TRADEMARK VIOLATION NOTICE: This report was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/14/zacks-analysts-anticipate-piedmont-office-realty-trust-inc-pdm-will-post-quarterly-sales-of-140-39-million.html.

Shares of Piedmont Office Realty Trust (PDM) opened at 20.34 on Friday. Piedmont Office Realty Trust has a 1-year low of $18.61 and a 1-year high of $23.08. The stock’s 50 day moving average is $20.20 and its 200-day moving average is $20.97. The firm has a market cap of $2.96 billion, a PE ratio of 52.83 and a beta of 0.60.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 221.06%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDM. Cornerstone Capital Management Holdings LLC. purchased a new stake in Piedmont Office Realty Trust during the first quarter valued at about $164,000. SG Americas Securities LLC lifted its holdings in Piedmont Office Realty Trust by 31.5% during the first quarter. SG Americas Securities LLC now owns 7,696 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 1,843 shares during the last quarter. Blue Sky Asset Management LLC purchased a new stake in Piedmont Office Realty Trust during the second quarter valued at about $173,000. PNC Financial Services Group Inc. lifted its holdings in Piedmont Office Realty Trust by 19.4% during the second quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 1,404 shares during the last quarter. Finally, Financial Counselors Inc. lifted its holdings in Piedmont Office Realty Trust by 0.5% during the second quarter. Financial Counselors Inc. now owns 10,454 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 47 shares during the last quarter. 82.75% of the stock is currently owned by institutional investors and hedge funds.

About Piedmont Office Realty Trust

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.

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According to Zacks, analysts expect that Piedmont Office Realty Trust will report full-year sales of $140.39 million for the current financial year, with estimates ranging from $568.21 million to $589.29 million. For the next fiscal year, analysts expect that the company will report sales of $553.89 million per share, with estimates ranging from $515.60 million to $576.18 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $148.70 million during the quarter, compared to analysts’ expectations of $147.66 million. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. Piedmont Office Realty Trust’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS.

PDM has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. ValuEngine downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, July 5th. Robert W. Baird raised shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $23.00 to $24.00 in a report on Monday, August 28th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $21.00 price target on shares of Piedmont Office Realty Trust in a report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Piedmont Office Realty Trust has an average rating of “Hold” and a consensus target price of $22.67.

TRADEMARK VIOLATION NOTICE: This report was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/14/zacks-analysts-anticipate-piedmont-office-realty-trust-inc-pdm-will-post-quarterly-sales-of-140-39-million.html.

Shares of Piedmont Office Realty Trust (PDM) opened at 20.34 on Friday. Piedmont Office Realty Trust has a 1-year low of $18.61 and a 1-year high of $23.08. The stock’s 50 day moving average is $20.20 and its 200-day moving average is $20.97. The firm has a market cap of $2.96 billion, a PE ratio of 52.83 and a beta of 0.60.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 221.06%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDM. Cornerstone Capital Management Holdings LLC. purchased a new stake in Piedmont Office Realty Trust during the first quarter valued at about $164,000. SG Americas Securities LLC lifted its holdings in Piedmont Office Realty Trust by 31.5% during the first quarter. SG Americas Securities LLC now owns 7,696 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 1,843 shares during the last quarter. Blue Sky Asset Management LLC purchased a new stake in Piedmont Office Realty Trust during the second quarter valued at about $173,000. PNC Financial Services Group Inc. lifted its holdings in Piedmont Office Realty Trust by 19.4% during the second quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 1,404 shares during the last quarter. Finally, Financial Counselors Inc. lifted its holdings in Piedmont Office Realty Trust by 0.5% during the second quarter. Financial Counselors Inc. now owns 10,454 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 47 shares during the last quarter. 82.75% of the stock is currently owned by institutional investors and hedge funds.

About Piedmont Office Realty Trust

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.

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

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