Piedmont Office Realty Trust (NYSE:PDM) Releases FY24 Earnings Guidance

Piedmont Office Realty Trust (NYSE:PDM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.46-1.56 for the period, compared to the consensus earnings per share estimate of $1.52.

Piedmont Office Realty Trust Stock Performance

Shares of NYSE:PDM traded down $0.05 on Tuesday, reaching $6.89. 1,148,301 shares of the company’s stock were exchanged, compared to its average volume of 883,640. Piedmont Office Realty Trust has a twelve month low of $4.91 and a twelve month high of $8.05. The company has a fifty day moving average of $6.51 and a 200-day moving average of $6.50. The company has a market capitalization of $853.60 million, a price-to-earnings ratio of -17.36 and a beta of 1.15. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.19.

Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.65). Piedmont Office Realty Trust had a negative return on equity of 2.72% and a negative net margin of 8.38%. The company had revenue of $145.33 million for the quarter, compared to analyst estimates of $146.37 million. On average, research analysts predict that Piedmont Office Realty Trust will post 1.51 EPS for the current fiscal year.

Piedmont Office Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Thursday, May 23rd. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is presently -125.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Piedmont Office Realty Trust from a hold rating to a sell rating in a research note on Thursday, February 22nd.

Piedmont Office Realty Trust Company Profile

Piedmont Office Realty Trust, Inc (also referred to herein as "Piedmont" or the "Company") (NYSE: PDM) is an owner, manager, developer, redeveloper and operator of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. The Company is a fully-integrated, self-managed real estate investment trust ("REIT") with local management offices in each of its markets and is investment-grade rated by Standard & Poor's and Moody's.