Piedmont Office Realty Trust, Inc. Announces Quarterly Dividend of $0.13 (NYSE:PDM)

Piedmont Office Realty Trust, Inc. (NYSE:PDM - Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Friday, May 24th will be paid a dividend of 0.125 per share by the real estate investment trust on Friday, June 14th. This represents a $0.50 annualized dividend and a yield of 7.45%. The ex-dividend date is Thursday, May 23rd.

Piedmont Office Realty Trust has decreased its dividend payment by an average of 7.3% per year over the last three years. Piedmont Office Realty Trust has a dividend payout ratio of -208.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Piedmont Office Realty Trust to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 33.3%.

Piedmont Office Realty Trust Trading Down 0.1 %

Shares of NYSE PDM traded down $0.01 during mid-day trading on Friday, hitting $6.71. The stock had a trading volume of 450,379 shares, compared to its average volume of 883,837. The business has a 50 day moving average price of $6.50 and a two-hundred day moving average price of $6.47. Piedmont Office Realty Trust has a 1 year low of $4.91 and a 1 year high of $8.05. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $831.30 million, a P/E ratio of -16.77 and a beta of 1.15.

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.65). The firm had revenue of $145.33 million during the quarter, compared to analysts' expectations of $146.37 million. Piedmont Office Realty Trust had a negative net margin of 8.38% and a negative return on equity of 2.72%. On average, equities analysts anticipate that Piedmont Office Realty Trust will post 1.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Piedmont Office Realty Trust from a "hold" rating to a "sell" rating in a research report on Thursday, February 22nd.

Piedmont Office Realty Trust Company Profile

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.