Piedmont Office Realty Trust (PDM) Announces Earnings Results

Piedmont Office Realty Trust (NYSE:PDM) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04, MarketWatch Earnings reports. The firm had revenue of $129.71 million for the quarter, compared to the consensus estimate of $127.24 million. Piedmont Office Realty Trust had a net margin of 30.50% and a return on equity of 2.81%. During the same period in the prior year, the company posted $0.42 earnings per share. Piedmont Office Realty Trust updated its FY18 guidance to $1.70-1.73 EPS.

Piedmont Office Realty Trust stock traded down $0.19 during trading hours on Wednesday, reaching $18.26. 96,100 shares of the stock were exchanged, compared to its average volume of 694,729. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 2.68 and a beta of 0.60. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. Piedmont Office Realty Trust has a twelve month low of $16.69 and a twelve month high of $20.57.

A number of equities research analysts have issued reports on PDM shares. ValuEngine upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. TheStreet downgraded shares of Piedmont Office Realty Trust from a “b-” rating to a “c+” rating in a research note on Monday, October 8th. Finally, Zacks Investment Research downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $21.25.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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Earnings History for Piedmont Office Realty Trust (NYSE:PDM)

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