Piedmont Office Realty Trust, Inc. (NYSE:PDM) declared a quarterly dividend on Tuesday, October 31st, Zacks reports. Shareholders of record on Friday, November 24th will be given a dividend of 0.21 per share by the real estate investment trust on Thursday, January 4th. This represents a $0.84 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Wednesday, November 22nd.
Piedmont Office Realty Trust has decreased its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 3 years. Piedmont Office Realty Trust has a dividend payout ratio of 48.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Piedmont Office Realty Trust to earn $1.69 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 49.7%.
Piedmont Office Realty Trust (NYSE PDM) opened at $20.18 on Friday. Piedmont Office Realty Trust has a 12 month low of $18.87 and a 12 month high of $23.08. The company has a market capitalization of $2,880.22, a price-to-earnings ratio of 11.27, a PEG ratio of 2.86 and a beta of 0.62. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.78.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Piedmont Office Realty Trust had a return on equity of 4.06% and a net margin of 33.72%. The business had revenue of $137.59 million for the quarter, compared to analyst estimates of $140.39 million. During the same quarter in the prior year, the company posted $0.41 EPS. sell-side analysts expect that Piedmont Office Realty Trust will post 1.75 earnings per share for the current year.
Several equities analysts have recently commented on PDM shares. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Wednesday, October 11th. BidaskClub downgraded Piedmont Office Realty Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. ValuEngine upgraded Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 price objective on shares of Piedmont Office Realty Trust in a report on Friday, November 3rd. Finally, Robert W. Baird upgraded Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $23.00 to $24.00 in a report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Piedmont Office Realty Trust has a consensus rating of “Hold” and a consensus target price of $22.33.
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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.
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