Piedmont Office Realty Trust (NYSE:PDM) Releases FY 2022 Earnings Guidance

Piedmont Office Realty Trust (NYSE:PDMGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.99-$2.05 for the period. The company issued revenue guidance of -.

Piedmont Office Realty Trust Trading Up 1.2 %

NYSE:PDM traded up $0.16 on Thursday, reaching $13.58. 23,111 shares of the company’s stock were exchanged, compared to its average volume of 806,126. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 33.88 and a beta of 0.96. The business has a fifty day moving average of $13.59 and a 200-day moving average of $15.78. Piedmont Office Realty Trust has a 52-week low of $12.38 and a 52-week high of $19.84.

Piedmont Office Realty Trust (NYSE:PDMGet Rating) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Piedmont Office Realty Trust had a return on equity of 2.69% and a net margin of 9.24%. The firm had revenue of $136.15 million for the quarter, compared to analysts’ expectations of $135.88 million. As a group, analysts expect that Piedmont Office Realty Trust will post 2.03 earnings per share for the current year.

Wall Street Analyst Weigh In

PDM has been the subject of a number of research analyst reports. Truist Financial lowered their price target on Piedmont Office Realty Trust from $21.00 to $17.00 and set a buy rating for the company in a report on Thursday, June 30th. StockNews.com downgraded Piedmont Office Realty Trust from a buy rating to a hold rating in a report on Thursday, May 26th.

Insiders Place Their Bets

In other Piedmont Office Realty Trust news, Director Glenn Gary Cohen acquired 5,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was purchased at an average price of $16.15 per share, for a total transaction of $80,750.00. Following the completion of the transaction, the director now owns 22,408 shares of the company’s stock, valued at approximately $361,889.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Piedmont Office Realty Trust news, Director Glenn Gary Cohen acquired 5,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was purchased at an average price of $16.15 per share, for a total transaction of $80,750.00. Following the completion of the transaction, the director now owns 22,408 shares of the company’s stock, valued at approximately $361,889.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Laura P. Moon sold 7,627 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $16.09, for a total value of $122,718.43. Following the completion of the transaction, the chief accounting officer now owns 47,001 shares of the company’s stock, valued at approximately $756,246.09. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by company insiders.

Institutional Trading of Piedmont Office Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Piedmont Office Realty Trust by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 19,626,841 shares of the real estate investment trust’s stock worth $337,974,000 after purchasing an additional 534,136 shares in the last quarter. State Street Corp boosted its stake in Piedmont Office Realty Trust by 11.6% in the 1st quarter. State Street Corp now owns 6,174,792 shares of the real estate investment trust’s stock worth $106,330,000 after buying an additional 640,582 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Piedmont Office Realty Trust by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,909,120 shares of the real estate investment trust’s stock worth $50,096,000 after buying an additional 150,035 shares during the last quarter. Prudential Financial Inc. boosted its stake in Piedmont Office Realty Trust by 10.2% in the 1st quarter. Prudential Financial Inc. now owns 1,323,360 shares of the real estate investment trust’s stock worth $22,788,000 after buying an additional 122,282 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Piedmont Office Realty Trust by 13.5% in the 1st quarter. Bank of America Corp DE now owns 1,100,546 shares of the real estate investment trust’s stock worth $18,951,000 after buying an additional 131,088 shares during the last quarter. Hedge funds and other institutional investors own 82.61% of the company’s stock.

Piedmont Office Realty Trust Company Profile

(Get Rating)

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt.

Further Reading

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

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