Headlines about Piedmont Office Realty Trust (NYSE:PDM) have trended positive recently, Accern Sentiment reports. The research firm identifies negative and positive media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Piedmont Office Realty Trust earned a news sentiment score of 0.36 on Accern’s scale. Accern also gave media headlines about the real estate investment trust an impact score of 69 out of 100, meaning that recent media coverage is likely to have an effect on the company’s share price in the immediate future.
Several analysts recently commented on PDM shares. Zacks Investment Research downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, May 5th. ValuEngine downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, BidaskClub downgraded shares of Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, June 24th.
Piedmont Office Realty Trust (PDM) traded down 0.55% during mid-day trading on Friday, reaching $20.06. 548,566 shares of the company’s stock were exchanged. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 52.10 and a beta of 0.60. Piedmont Office Realty Trust has a 52-week low of $18.61 and a 52-week high of $23.08. The company has a 50-day moving average of $20.80 and a 200-day moving average of $21.51.
Piedmont Office Realty Trust (NYSE:PDM) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $148.70 million during the quarter, compared to analyst estimates of $147.66 million. During the same period last year, the business earned $0.40 earnings per share. Piedmont Office Realty Trust’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Piedmont Office Realty Trust will post $0.50 earnings per share for the current year.
Piedmont Office Realty Trust declared that its board has approved a share 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 purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a $0.21 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.19%. Piedmont Office Realty Trust’s dividend payout ratio (DPR) is currently 221.06%.
In other news, CAO Laura P. Moon sold 7,800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $21.64, for a total value 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 available through this hyperlink. 0.76% of the stock is currently owned by company insiders.
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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