Piedmont Office Realty Trust, Inc. (NYSE:PDM) Announces Quarterly Dividend of $0.13

Piedmont Office Realty Trust, Inc. (NYSE:PDM) announced a quarterly dividend on Thursday, October 24th, NASDAQ reports. Investors of record on Friday, November 22nd will be paid a dividend of 0.125 per share by the real estate investment trust on Thursday, January 2nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Friday, November 22nd.

Piedmont Office Realty Trust has decreased its dividend payment by an average of 7.3% annually over the last three years. Piedmont Office Realty Trust has a payout ratio of -500.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Piedmont Office Realty Trust to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 33.6%.

Piedmont Office Realty Trust Stock Performance

Piedmont Office Realty Trust stock traded down $0.55 during mid-day trading on Friday, reaching $10.33. 1,841,108 shares of the company were exchanged, compared to its average volume of 856,090. Piedmont Office Realty Trust has a twelve month low of $4.91 and a twelve month high of $11.11. The firm’s 50-day simple moving average is $9.89 and its two-hundred day simple moving average is $8.28. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.40 and a current ratio of 2.40. The firm has a market cap of $1.28 billion, a PE ratio of -15.63 and a beta of 1.22.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.45). Piedmont Office Realty Trust had a negative return on equity of 4.84% and a negative net margin of 14.24%. The company had revenue of $143.26 million for the quarter, compared to analyst estimates of $141.25 million. Equities analysts predict that Piedmont Office Realty Trust will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PDM shares. StockNews.com raised Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Truist Financial reissued a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Piedmont Office Realty Trust in a research note on Wednesday, August 14th.

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.