Q2 2020 Earnings Estimate for Piedmont Office Realty Trust, Inc. Issued By SunTrust Banks (NYSE:PDM)

Piedmont Office Realty Trust, Inc. (NYSE:PDM) – Equities researchers at SunTrust Banks upped their Q2 2020 EPS estimates for Piedmont Office Realty Trust in a research note issued to investors on Tuesday, February 11th. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $0.50 per share for the quarter, up from their prior estimate of $0.47. SunTrust Banks currently has a “Buy” rating and a $24.00 target price on the stock. SunTrust Banks also issued estimates for Piedmont Office Realty Trust’s Q3 2020 earnings at $0.51 EPS, Q4 2020 earnings at $0.51 EPS, FY2021 earnings at $2.09 EPS, FY2022 earnings at $2.20 EPS, FY2023 earnings at $2.28 EPS and FY2024 earnings at $2.40 EPS.

Piedmont Office Realty Trust (NYSE:PDM) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.84. Piedmont Office Realty Trust had a net margin of 43.00% and a return on equity of 13.47%. The firm had revenue of $134.20 million during the quarter, compared to analyst estimates of $134.23 million. During the same quarter in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year.

A number of other brokerages have also recently weighed in on PDM. Zacks Investment Research raised shares of Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Saturday, February 8th. ValuEngine raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. TheStreet raised shares of Piedmont Office Realty Trust from a “c+” rating to a “b-” rating in a research report on Friday, November 15th. Finally, Robert W. Baird raised shares of Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Piedmont Office Realty Trust currently has an average rating of “Buy” and an average target price of $25.67.

Shares of NYSE PDM opened at $24.33 on Thursday. The company’s fifty day moving average is $23.00 and its 200-day moving average is $21.44. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 13.37 and a beta of 0.70. Piedmont Office Realty Trust has a twelve month low of $19.18 and a twelve month high of $24.78. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.12.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Piedmont Office Realty Trust by 1.3% during the third quarter. State Street Corp now owns 5,874,534 shares of the real estate investment trust’s stock worth $122,660,000 after purchasing an additional 75,967 shares in the last quarter. FMR LLC lifted its position in Piedmont Office Realty Trust by 6.1% in the 4th quarter. FMR LLC now owns 5,588,638 shares of the real estate investment trust’s stock valued at $124,292,000 after acquiring an additional 318,992 shares in the last quarter. Rothschild & Co. Asset Management US Inc. lifted its position in Piedmont Office Realty Trust by 17.1% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 2,074,557 shares of the real estate investment trust’s stock valued at $46,138,000 after acquiring an additional 302,559 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Piedmont Office Realty Trust by 11.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,435,371 shares of the real estate investment trust’s stock valued at $31,923,000 after acquiring an additional 143,555 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Piedmont Office Realty Trust by 8.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,311,020 shares of the real estate investment trust’s stock valued at $27,373,000 after acquiring an additional 97,088 shares in the last quarter. 84.37% of the stock is currently owned by institutional investors.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 28th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.45%. Piedmont Office Realty Trust’s dividend payout ratio is 46.93%.

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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