Brokerages predict that Piedmont Office Realty Trust, Inc. (NYSE:PDM) will announce earnings of $0.45 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Piedmont Office Realty Trust’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.46. Piedmont Office Realty Trust reported earnings of $0.41 per share during the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The business is expected to announce its next earnings results after the market closes on Wednesday, May 1st.

On average, analysts expect that Piedmont Office Realty Trust will report full-year earnings of $1.77 per share for the current year, with EPS estimates ranging from $1.75 to $1.79. For the next fiscal year, analysts anticipate that the business will report earnings of $1.85 per share, with EPS estimates ranging from $1.81 to $1.88. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Piedmont Office Realty Trust.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Tuesday, February 5th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.09). Piedmont Office Realty Trust had a return on equity of 7.47% and a net margin of 24.77%. The company had revenue of $137.20 million during the quarter, compared to analyst estimates of $125.41 million. During the same period in the prior year, the business posted $0.42 earnings per share. Piedmont Office Realty Trust’s revenue was down 1.4% on a year-over-year basis.

A number of brokerages have weighed in on PDM. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, February 13th. Stifel Nicolaus raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating and lifted their price target for the company from $16.00 to $20.00 in a research report on Thursday, February 7th. Finally, Robert W. Baird cut shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $22.33.

PDM opened at $20.51 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.75 and a current ratio of 1.75. Piedmont Office Realty Trust has a 1 year low of $16.43 and a 1 year high of $21.35. The company has a market capitalization of $2.57 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.96 and a beta of 0.81.

Hedge funds have recently made changes to their positions in the business. Capital Investment Advisory Services LLC acquired a new position in Piedmont Office Realty Trust during the fourth quarter valued at approximately $43,000. Lavaca Capital LLC purchased a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $58,000. Redpoint Investment Management Pty Ltd purchased a new stake in shares of Piedmont Office Realty Trust during the fourth quarter valued at approximately $193,000. Caxton Associates LP purchased a new stake in shares of Piedmont Office Realty Trust during the third quarter valued at approximately $195,000. Finally, Virtu Financial LLC purchased a new stake in shares of Piedmont Office Realty Trust during the first quarter valued at approximately $207,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

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 and Estimates for Piedmont Office Realty Trust (NYSE:PDM)

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