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

Posted by Scott Moore on Oct 24th, 2024

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PDM shares. Truist Financial reissued 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 raised shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd.

View Our Latest Research Report on Piedmont Office Realty Trust

Piedmont Office Realty Trust Price Performance

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 firm’s fifty day simple moving average is $9.85 and its 200-day simple moving average is $8.26. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 1.34. Piedmont Office Realty Trust has a 1-year low of $4.91 and a 1-year high of $11.11.

Piedmont Office Realty Trust (NYSE:PDM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported ($0.08) earnings per share (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 business had revenue of $143.26 million during the quarter, compared to analyst estimates of $141.25 million. Research analysts forecast that Piedmont Office Realty Trust will post 1.5 EPS for the current fiscal 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.