Piedmont Office Realty Trust (NYSE:PDM) Issues FY24 Earnings Guidance

Posted by Casey Walker on Oct 24th, 2024

Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.48-1.50 for the period, compared to the consensus EPS estimate of $1.50. Piedmont Office Realty Trust also updated its FY 2024 guidance to 1.480-1.500 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PDM. Truist Financial reaffirmed a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd.

Check Out Our Latest Stock Analysis on Piedmont Office Realty Trust

Piedmont Office Realty Trust Trading Up 1.6 %

PDM traded up $0.17 during mid-day trading on Thursday, hitting $10.88. 495,350 shares of the stock were exchanged, compared to its average volume of 851,240. The firm’s fifty day moving average is $9.85 and its two-hundred day moving average is $8.26. Piedmont Office Realty Trust has a 1-year low of $4.91 and a 1-year high of $11.11. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.35 billion, a PE ratio of -17.74 and a beta of 1.22.

Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.45). Piedmont Office Realty Trust had a negative return on equity of 4.84% and a negative net margin of 14.24%. The firm had revenue of $143.26 million for the quarter, compared to analyst estimates of $141.25 million. Equities analysts forecast that Piedmont Office Realty Trust will post 1.5 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Company Profile

(Get Free Report)

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.