Piedmont Office Realty Trust (NYSE:PDM) Releases FY24 Earnings Guidance

Piedmont Office Realty Trust (NYSE:PDM) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.46-1.56 for the period, compared to the consensus EPS estimate of $1.52. Piedmont Office Realty Trust also updated its FY 2024 guidance to 1.460-1.560 EPS.

Piedmont Office Realty Trust Trading Up 1.3 %

NYSE:PDM traded up $0.09 on Thursday, hitting $6.83. 547,270 shares of the stock were exchanged, compared to its average volume of 877,896. The stock has a fifty day moving average of $6.52 and a 200-day moving average of $6.51. The stock has a market cap of $846.17 million, a PE ratio of -11.05 and a beta of 1.14. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.19. Piedmont Office Realty Trust has a fifty-two week low of $4.91 and a fifty-two week high of $8.05.

Piedmont Office Realty Trust (NYSE:PDM) last issued its earnings results 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). Piedmont Office Realty Trust had a negative return on equity of 4.24% and a negative net margin of 12.90%. The firm had revenue of $145.33 million for the quarter, compared to analysts’ expectations of $146.37 million. As a group, equities analysts expect that Piedmont Office Realty Trust will post 1.51 earnings per share for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.50 dividend on an annualized basis and a yield of 7.32%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -81.97%.

Analyst Ratings Changes

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.