Piedmont Office Realty Trust, Inc. (NYSE:PDM) declared a None dividend on Wednesday, December 13th, NASDAQ reports. Investors of record on Tuesday, December 26th will be given a dividend of 0.50 per share by the real estate investment trust on Tuesday, January 9th. This represents a dividend yield of 4.16%. The ex-dividend date is Friday, December 22nd. This is an increase from Piedmont Office Realty Trust’s previous None dividend of $0.21.
Piedmont Office Realty Trust has decreased its dividend by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 3 years. Piedmont Office Realty Trust has a payout ratio of 48.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Piedmont Office Realty Trust to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 50.3%.
Shares of Piedmont Office Realty Trust (NYSE:PDM) opened at $19.90 on Thursday. The stock has a market cap of $2,891.77, a PE ratio of 11.32, a price-to-earnings-growth ratio of 2.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.15 and a current ratio of 2.15. Piedmont Office Realty Trust has a one year low of $19.10 and a one year high of $23.08.
A number of equities research analysts have issued reports on PDM shares. Robert W. Baird upgraded shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $23.00 to $24.00 in a research note on Monday, August 28th. ValuEngine downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Stifel Nicolaus reiterated a “hold” rating and set a $21.00 price objective on shares of Piedmont Office Realty Trust in a research note on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Piedmont Office Realty Trust has a consensus rating of “Hold” and a consensus price target of $22.33.
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About Piedmont Office Realty Trust
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.
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