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

Piedmont Office Realty Trust (NYSE:PDM - Get Free Report) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01, Zacks reports. The business had revenue of $136.06 million for the quarter, compared to analysts' expectations of $141.29 million. Piedmont Office Realty Trust had a negative net margin of 13.86% and a negative return on equity of 4.82%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. Piedmont Office Realty Trust updated its FY 2025 guidance to 1.380-1.440 EPS.

Piedmont Office Realty Trust Price Performance

NYSE:PDM traded up $0.36 during mid-day trading on Friday, reaching $6.64. The stock had a trading volume of 1,483,059 shares, compared to its average volume of 876,104. Piedmont Office Realty Trust has a 12 month low of $5.46 and a 12 month high of $11.12. The stock has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $8.33. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.10 and a quick ratio of 2.22. The stock has a market capitalization of $826.07 million, a PE ratio of -10.54 and a beta of 1.21.

Piedmont Office Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a dividend of $0.125 per share. The ex-dividend date was Friday, February 21st. This represents a $0.50 annualized dividend and a yield of 7.53%. Piedmont Office Realty Trust's dividend payout ratio is -102.04%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PDM. Truist Financial restated a "buy" rating and issued a $10.00 target price (down previously from $11.00) on shares of Piedmont Office Realty Trust in a research note on Tuesday, February 25th. StockNews.com upgraded Piedmont Office Realty Trust from a "sell" rating to a "hold" rating in a report on Monday, February 17th. Baird R W downgraded shares of Piedmont Office Realty Trust from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 16th. Finally, Robert W. Baird lowered their target price 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.

Insider Transactions at Piedmont Office Realty Trust

In related news, CFO Sherry L. Rexroad bought 16,850 shares of the business's stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $5.95 per share, for a total transaction of $100,257.50. Following the completion of the transaction, the chief financial officer now directly owns 16,850 shares of the company's stock, valued at approximately $100,257.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.29% of the stock is owned by insiders.

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.