Equities analysts expect Piedmont Office Realty Trust, Inc. (NYSE:PDM) to report $126.83 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Piedmont Office Realty Trust’s earnings, with the lowest sales estimate coming in at $121.72 million and the highest estimate coming in at $132.58 million. Piedmont Office Realty Trust reported sales of $129.17 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that Piedmont Office Realty Trust will report full year sales of $513.35 million for the current financial year, with estimates ranging from $492.58 million to $534.82 million. For the next year, analysts expect that the business will report sales of $530.55 million, with estimates ranging from $500.69 million to $554.54 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.05). The firm had revenue of $132.90 million for the quarter, compared to analysts’ expectations of $120.78 million. Piedmont Office Realty Trust had a return on equity of 7.10% and a net margin of 23.19%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS.

PDM has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Stifel Nicolaus raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating and increased their target price for the company from $16.00 to $20.00 in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Piedmont Office Realty Trust currently has an average rating of “Hold” and an average price target of $22.33.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Piedmont Office Realty Trust by 2.8% during the fourth quarter. BlackRock Inc. now owns 13,652,709 shares of the real estate investment trust’s stock valued at $232,642,000 after buying an additional 375,052 shares during the period. American Century Companies Inc. boosted its position in shares of Piedmont Office Realty Trust by 3.2% during the fourth quarter. American Century Companies Inc. now owns 5,180,448 shares of the real estate investment trust’s stock valued at $88,275,000 after purchasing an additional 159,032 shares in the last quarter. Cbre Clarion Securities LLC boosted its position in shares of Piedmont Office Realty Trust by 5.4% during the first quarter. Cbre Clarion Securities LLC now owns 4,293,959 shares of the real estate investment trust’s stock valued at $89,529,000 after purchasing an additional 221,242 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Piedmont Office Realty Trust by 2.8% during the first quarter. Renaissance Technologies LLC now owns 3,256,500 shares of the real estate investment trust’s stock valued at $67,898,000 after purchasing an additional 89,600 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Piedmont Office Realty Trust by 40.1% during the third quarter. JPMorgan Chase & Co. now owns 2,916,158 shares of the real estate investment trust’s stock valued at $55,203,000 after purchasing an additional 834,192 shares in the last quarter. 84.51% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:PDM traded up $0.19 during trading on Friday, reaching $20.88. 20,757 shares of the company’s stock traded hands, compared to its average volume of 766,933. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.91. Piedmont Office Realty Trust has a 12 month low of $16.43 and a 12 month high of $21.40. The company has a market cap of $2.59 billion, a PE ratio of 12.04, a P/E/G ratio of 1.94 and a beta of 0.79.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 31st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, May 30th. Piedmont Office Realty Trust’s dividend payout ratio is currently 48.55%.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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

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