Piedmont Office Realty Trust, Inc. (PDM) Updates FY17 Earnings Guidance
Piedmont Office Realty Trust, Inc. (NYSE:PDM) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.74-1.76 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.76.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Piedmont Office Realty Trust from a buy rating to a hold rating in a report on Tuesday. ValuEngine raised Piedmont Office Realty Trust from a hold rating to a buy rating in a report on Monday, October 2nd. Stifel Nicolaus reissued a hold rating and set a $21.00 price target on shares of Piedmont Office Realty Trust in a report on Thursday, September 21st. Robert W. Baird raised Piedmont Office Realty Trust from a neutral rating to an outperform rating and increased their price target for the company from $23.00 to $24.00 in a report on Monday, August 28th. Finally, BidaskClub cut Piedmont Office Realty Trust from a sell rating to a strong sell rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Piedmont Office Realty Trust currently has a consensus rating of Hold and an average target price of $22.67.
Piedmont Office Realty Trust (NYSE:PDM) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. During the same quarter last year, the firm earned $0.41 EPS.
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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