Piedmont Office Realty Trust (NYSE:PDM) Issues Earnings Results, Beats Expectations By $0.01 EPS

Piedmont Office Realty Trust (NYSE:PDM) posted its earnings results on Monday. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01, Zacks reports. Piedmont Office Realty Trust had a negative return on equity of 4.82% and a negative net margin of 13.86%. The business had revenue of $136.06 million during the quarter, compared to analyst estimates of $141.29 million. During the same quarter last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Piedmont Office Realty Trust updated its FY 2025 guidance to 1.380-1.440 EPS.

Piedmont Office Realty Trust Stock Down 15.8 %

Shares of NYSE:PDM traded down $1.07 during trading on Tuesday, hitting $5.73. 1,293,588 shares of the company were exchanged, compared to its average volume of 795,985. The stock has a market cap of $712.36 million, a price-to-earnings ratio of -9.09 and a beta of 1.21. The firm has a fifty day moving average price of $6.98 and a two-hundred day moving average price of $8.44. Piedmont Office Realty Trust has a fifty-two week low of $5.67 and a fifty-two week high of $11.11. The company has a current ratio of 2.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.40.

Piedmont Office Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date was Friday, February 21st. Piedmont Office Realty Trust’s dividend payout ratio is currently -79.37%.

Wall Street Analysts Forecast Growth

PDM has been the topic of several research analyst reports. StockNews.com raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Baird R W lowered shares of Piedmont Office Realty Trust from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Truist Financial reaffirmed a “buy” rating and issued a $10.00 price target (down from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. Finally, Robert W. Baird dropped their price objective on Piedmont Office Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th.

About Piedmont Office Realty Trust

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.