About Piedmont Office Realty Trust (NYSE:PDM)
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. Its properties are located in areas, including New York, Chicago, Atlanta, Dallas, Boston, Minneapolis and Orlando. Its tenant base includes industries, such as business services, depository institutions, educational services, real estate, legal services and insurance carriers. The Company conducts business primarily through Piedmont Operating Partnership, L.P. (Piedmont OP). It performs the management of its buildings through its subsidiaries, including Piedmont Government Services, LLC and Piedmont Office Management, LLC.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Office REITs
- Sub-Industry: Office REITs
- Symbol: NYSE:PDM
- CUSIP: 72019020
- Web: www.piedmontreit.com
- Market Cap: $2.84869 billion
- Outstanding Shares: 145,489,000
- 50 Day Moving Avg: $20.19
- 200 Day Moving Avg: $20.92
- 52 Week Range: $18.61 - $23.08
Sales & Book Value:
- Trailing P/E Ratio: 50.86
- Foreward P/E Ratio: 11.45
- P/E Growth: 9.83
- Annual Revenue: $579.79 million
- Price / Sales: 4.91
- Book Value: $14.29 per share
- Price / Book: 1.37
- Annual Dividend: $0.84
- Dividend Yield: 4.3%
- EBITDA: $263.29 million
- Net Margins: 9.71%
- Return on Equity: 2.67%
- Return on Assets: 1.29%
- Debt-to-Equity Ratio: 0.99%
- Current Ratio: 1.99%
- Quick Ratio: 1.99%
- Average Volume: 685,058 shs.
- Beta: 0.6
- Short Ratio: 6.59
Frequently Asked Questions for Piedmont Office Realty Trust (NYSE:PDM)
What is Piedmont Office Realty Trust's stock symbol?
Piedmont Office Realty Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "PDM."
How often does Piedmont Office Realty Trust pay dividends? What is the dividend yield for Piedmont Office Realty Trust?
Piedmont Office Realty Trust declared a quarterly dividend on Thursday, August 3rd. Investors of record on Friday, August 25th will be paid a dividend of $0.21 per share on Friday, September 15th. This represents a $0.84 annualized dividend and a yield of 4.29%. The ex-dividend date is Wednesday, August 23rd. View Piedmont Office Realty Trust's Dividend History.
How will Piedmont Office Realty Trust's stock buyback program work?
Piedmont Office Realty Trust announced that its Board of Directors has authorized a share buyback program on Sunday, June 4th 2017, which authorizes the company to repurchase $250,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
How were Piedmont Office Realty Trust's earnings last quarter?
Piedmont Office Realty Trust, Inc. (NYSE:PDM) issued its quarterly earnings data on Wednesday, August, 2nd. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The company earned $148.70 million during the quarter, compared to the consensus estimate of $147.66 million. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. The firm's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. View Piedmont Office Realty Trust's Earnings History.
When will Piedmont Office Realty Trust make its next earnings announcement?
What guidance has Piedmont Office Realty Trust issued on next quarter's earnings?
Piedmont Office Realty Trust updated its FY17 earnings guidance on Wednesday, August, 2nd. The company provided earnings per share guidance of $1.72-1.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.75.
Where is Piedmont Office Realty Trust's stock going? Where will Piedmont Office Realty Trust's stock price be in 2017?
2 brokerages have issued 12 month price objectives for Piedmont Office Realty Trust's stock. Their forecasts range from $21.00 to $24.00. On average, they anticipate Piedmont Office Realty Trust's stock price to reach $22.50 in the next year. View Analyst Ratings for Piedmont Office Realty Trust.
Who are some of Piedmont Office Realty Trust's key competitors?
Some companies that are related to Piedmont Office Realty Trust include Highwoods Properties (HIW), Hudson Pacific Properties (HPP), Paramount Group (PGRE), Paramount Group (PGRE), Equity Commonwealth (EQC), Corporate Office Properties Trust (OFC), Brandywine Realty Trust (BDN), Mack-Cali Realty Corporation (CLI), Franklin Street Properties Corp. (FSP), TIER REIT (TIER), Parkway Properties (PKY), NorthStar Realty Europe Corp. (NRE) and City Office REIT (CIO).
Who are Piedmont Office Realty Trust's key executives?
Piedmont Office Realty Trust's management team includes the folowing people:
- Donald A. Miller, President, Chief Executive Officer, Director
- Frank C. McDowell, Independent Vice Chairman of the Board
- Robert E. Bowers, Chief Financial Officer, Executive Vice President
- Carroll A. Reddic IV, Executive Vice President - Real Estate Operations, Assistant Secretary
- Joseph H. Pangburn, Executive Vice President - Southwest Region
- Thomas R. Prescott, Executive Vice President—Midwest Region
- George M. Wells, Executive Vice President - Southeast Region
- Robert K. Wiberg, Executive Vice President - Mid-Atlantic Region and Head of Development
- Laura P. Moon, Chief Accounting Officer, Senior Vice President
- C. Brent Smith, Chief Investment Officer
How do I buy Piedmont Office Realty Trust stock?
Shares of Piedmont Office Realty Trust can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Piedmont Office Realty Trust's stock price today?
MarketBeat Community Rating for Piedmont Office Realty Trust (NYSE PDM)MarketBeat's community ratings are surveys of what our community members think about Piedmont Office Realty Trust and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Piedmont Office Realty Trust stock can currently be purchased for approximately $19.58.
Consensus Ratings for Piedmont Office Realty Trust (NYSE:PDM) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||1 Hold Rating, 1 Buy Rating|
|Consensus Rating:||Buy (Score: 2.50)|
|Consensus Price Target: ||$22.50 (14.91% upside)|Consensus Price Target History for Piedmont Office Realty Trust (NYSE:PDM)
Analysts' Ratings History for Piedmont Office Realty Trust (NYSE:PDM)
(Data available from 10/22/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|9/21/2017||Stifel Nicolaus||Reiterated Rating||Hold||$21.00||Low|
|8/28/2017||Robert W. Baird||Upgrade||Neutral -> Outperform||$23.00 -> $24.00||Low|
|8/8/2016||DA Davidson||Boost Price Target||Neutral||$22.00 -> $23.00||N/A|
|2/10/2016||Oppenheimer Holdings, Inc.||Reiterated Rating||Market Perform||N/A|
|2/10/2016||J P Morgan Chase & Co||Lower Price Target||Neutral||$21.00 -> $20.00||N/A|
Earnings History for Piedmont Office Realty Trust (NYSE:PDM)Earnings History by Quarter for Piedmont Office Realty Trust (NYSE PDM)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|8/2/2017||Q2 2017||$0.44||$0.46||$147.66 million||$148.70 million||View||Listen|
|5/3/2017||Q1 2017||$0.44||$0.10||$145.35 million||$148.50 million||View||Listen|
|2/8/2017||Q4 2016||$0.43||$0.44||$140.23 million||$143.91 million||View||Listen|
|8/3/2016||Q2||$0.40||$0.40||$138.87 million||$135.30 million||View||Listen|
|5/3/2016||Q1||$0.40||$0.41||$139.25 million||$138.00 million||View||Listen|
|2/4/2016||Q4||$0.41||$0.41||$147.99 million||$139.50 million||View||Listen|
|11/9/2015||Q3||$0.41||$0.41||$148.18 million||$148.80 million||View||Listen|
|7/29/2015||Q215||$0.39||$0.39||$149.09 million||$146.70 million||View||Listen|
|4/29/2015||Q1||$0.39||$0.39||$147.96 million||$149.80 million||View||Listen|
|2/6/2015||Q4||$0.38||$0.39||$144.63 million||$146.70 million||View||Listen|
|10/30/2014||Q314||$0.38||$0.38||$142.60 million||$144.64 million||View||Listen|
|7/30/2014||Q2||$0.36||$0.37||$137.27 million||$138.58 million||View||Listen|
|4/30/2014||Q413||$0.35||$0.37||$108.71 million||$136.30 million||View||Listen|
|2/7/2014||Q4||$0.37||$0.37||$138.84 million||$142.90 million||View||Listen|
|11/1/2013||Q313||$0.35||$0.37||$109.42 million||$145.10 million||View||Listen|
|8/2/2013||$0.34||$0.35||$132.30 million||$134.80 million||View||Listen|
Earnings Estimates for Piedmont Office Realty Trust (NYSE:PDM)
2017 EPS Consensus Estimate: $1.73
2018 EPS Consensus Estimate: $1.77
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Piedmont Office Realty Trust (NYSE:PDM)
|Most Recent Dividend:||9/15/2017|
|Dividend Growth:||-7.70% (3 Year Average)|
|Payout Ratio:||221.06% (Trailing 12 Months of Earnings) |
47.73% (Based on This Year's Estimates)
49.12% (Based on Next Year's Estimates)
|Track Record:||3 Years of Consecutive Dividend Growth|
Dividend History by Quarter for Piedmont Office Realty Trust (NYSE PDM)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Piedmont Office Realty Trust (NYSE:PDM)
Insider Ownership Percentage: 0.76%Insider Trades by Quarter for Piedmont Office Realty Trust (NYSE:PDM)
Institutional Ownership Percentage: 82.75%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|5/24/2017||Laura P Moon||CAO||Sell||7,800||$21.64||$168,792.00|| |
|12/10/2015||Laura P Moon||CAO||Sell||11,000||$18.75||$206,250.00|| |
|9/1/2015||Donald A Miller||CEO||Buy||7,500||$16.72||$125,400.00|| |
|8/25/2015||Jeffrey L Swope||Director||Buy||5,800||$17.25||$100,050.00|| |
|8/24/2015||Frank C Mcdowell||Director||Buy||10,000||$17.50||$175,000.00|| |
|5/6/2015||Raymond Lee Owens||EVP||Buy||1,425||$17.46||$24,880.50|| |
|4/13/2015||Bruce James Murray||Insider||Buy||15,000||$0.31||$4,650.00|
|4/2/2015||Bruce James Murray||Insider||Buy||30,000||$0.33||$9,900.00|
|2/12/2015||William H Keogler Jr||Director||Sell||1,500||$18.93||$28,395.00|| |
|2/11/2015||Jeffrey L Swope||Director||Buy||5,400||$18.58||$100,332.00|| |
|11/25/2014||Jeffrey L Swope||Director||Buy||5,750||$18.75||$107,812.50|| |
|11/18/2014||Jeffrey L Swope||Director||Buy||5,250||$19.17||$100,642.50|| |
|11/20/2012||W Wayne Woody||Director||Buy||6,250||$17.42||$108,875.00|| |
|11/8/2012||Donald S Moss||Director||Buy||5,000||$17.78||$88,900.00|| |
Headline Trends for Piedmont Office Realty Trust (NYSE:PDM)
Latest Headlines for Piedmont Office Realty Trust (NYSE:PDM)
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Piedmont Office Realty Trust (PDM) Chart for Sunday, October, 22, 2017