Piedmont Office Realty Trust (NYSE:PDM) Issues FY 2024 Earnings Guidance

by · The Markets Daily

Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.480-1.500 for the period, compared to the consensus earnings per share estimate of 1.500. The company issued revenue guidance of -. Piedmont Office Realty Trust also updated its FY24 guidance to $1.48-1.50 EPS.

Analyst Ratings Changes

PDM has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $11.00 price objective (up previously from $10.00) on shares of Piedmont Office Realty Trust in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd.

Read Our Latest Research Report on Piedmont Office Realty Trust

Piedmont Office Realty Trust Stock Up 1.5 %

Piedmont Office Realty Trust stock traded up $0.16 during midday trading on Thursday, reaching $10.88. The stock had a trading volume of 509,382 shares, compared to its average volume of 519,192. The company has a fifty day moving average price of $9.85 and a two-hundred day moving average price of $8.26. Piedmont Office Realty Trust has a 12 month low of $4.91 and a 12 month high of $11.11. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.40 and a current ratio of 2.40.

Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.45). Piedmont Office Realty Trust had a negative net margin of 14.24% and a negative return on equity of 4.84%. The firm had revenue of $143.26 million during the quarter, compared to analyst estimates of $141.25 million. As a group, equities research analysts expect that Piedmont Office Realty Trust will post 1.5 EPS for the current year.

Piedmont Office Realty Trust Company Profile

(Get Free Report)

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.

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