Piedmont Office Realty Trust (PDM) Earning Somewhat Favorable Media Coverage, Accern Reports
Media headlines about Piedmont Office Realty Trust (NYSE:PDM) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research group ranks the sentiment of media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Piedmont Office Realty Trust earned a news sentiment score of 0.19 on Accern’s scale. Accern also assigned news articles about the real estate investment trust an impact score of 47.4735096919355 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Piedmont Office Realty Trust (NYSE PDM) traded down 0.55% during trading on Friday, reaching $20.06. 548,566 shares of the company traded hands. Piedmont Office Realty Trust has a 52 week low of $18.61 and a 52 week high of $23.08. The firm has a 50-day moving average price of $20.77 and a 200-day moving average price of $21.50. The company has a market capitalization of $2.92 billion, a P/E ratio of 52.10 and a beta of 0.60.
Piedmont Office Realty Trust (NYSE:PDM) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Piedmont Office Realty Trust had a net margin of 9.71% and a return on equity of 2.67%. The firm had revenue of $148.70 million during the quarter, compared to analysts’ expectations of $147.66 million. During the same period in the previous year, the business posted $0.40 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Analysts forecast that Piedmont Office Realty Trust will post $0.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Wednesday, August 23rd. Piedmont Office Realty Trust’s dividend payout ratio is currently 221.06%.
Piedmont Office Realty Trust declared that its board has initiated a stock repurchase plan on Wednesday, May 3rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
PDM has been the topic of several recent analyst reports. ValuEngine upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. BidaskClub upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Wednesday, July 5th.
In other Piedmont Office Realty Trust news, CAO Laura P. Moon sold 7,800 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $21.64, for a total transaction of $168,792.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,620 shares in the company, valued at $532,776.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company’s stock.
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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