PDM

Piedmont Office Realty Trust
PDM

$9.44

0.74%

Market Cap: $1.17B

About: Piedmont Office Realty Trust Inc is a real estate investment trust engaged in the acquisition, development, and management of commercial real estate properties throughout the U.S. The company's real estate portfolio is mainly composed of office properties located in the majority of American metropolitan areas. Piedmont derives majority of its revenue in the form of rental income from tenants in mid- to long-term lease agreements. The vast majority of the company's revenue comes from the leasing of its assets in Washington D.C., New York City, Chicago, Atlanta, Minneapolis, Dallas, and Boston. Piedmont's large customers in terms of rental revenue are U.S. Government entities, business services companies, and financial institutions.

Employees: 150

Real Estate Operators of Non-residential Buildings

0

Funds holding %

of 6,686 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

6,322% more call options, than puts

Call options by funds: $1.16M | Put options by funds: $18K

200% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 3 (+2) [Q2]

15% more repeat investments, than reductions

Existing positions increased: 86 | Existing positions reduced: 75

11.77% more ownership

Funds ownership: 74.0% [Q1] → 85.77% (+11.77%) [Q2]

2% more capital invested

Capital invested by funds: $755M [Q1] → $770M (+$15.5M) [Q2]

3% less funds holding

Funds holding: 233 [Q1] → 227 (-6) [Q2]

17% less first-time investments, than exits

New positions opened: 30 | Existing positions closed: 36

See Fund Rankings

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

Low target

$11

17%

upside

Avg. target

$11

17%

upside

High target

$11

17%

upside

1 analyst rating

1 positive

100%

0 neutral

0%

0 negative

0%

Truist Securities

Michael Lewis

84% 1-year accuracy

37 / 44 met price target

17%upside

$11

Buy

Reiterated

14 Aug 2024

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Financial journalist opinion

Based on 3 articles about PDM published over the past 30 days

Zacks Investment Research

Are Investors Undervaluing Piedmont Office Realty Trust (PDM) Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Piedmont Office Realty Trust (PDM) Right Now?

Piedmont Office: Core FFO Will Likely Trough In 2024 (Rating Upgrade)

Piedmont Office Realty Trust is an office REIT focused on the Sunbelt region, with the largest markets being Atlanta, Dallas, and Orlando. The REIT has significantly outperformed the Vanguard Real Estate Index Fund ETF in 2024, delivering a ~41% total return. Q2 2024 results were robust, but elevated interest rates prompted a downgrade in the full-year Core FFO expectations. I expect Core FFO to return to growth in 2025.

Piedmont Office: Core FFO Will Likely Trough In 2024 (Rating Upgrade)

Zacks Investment Research

Is Piedmont Office Realty Trust (PDM) Stock Undervalued Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is Piedmont Office Realty Trust (PDM) Stock Undervalued Right Now?

Cash Cows: 9 High-Yield REITs With Safe Dividends

High-quality REITs with higher yields than usual may be a good investment opportunity. Income investors may find U.S. treasuries more appealing due to lower risk and higher yields compared to most REITs. Seeking Alpha Premium offers a Dividend Safety grade for REITs. A grade of B- or better indicates a mere 1 in 50 risk of a dividend cut.

Cash Cows: 9 High-Yield REITs With Safe Dividends

Piedmont Office Realty Trust, Inc. (PDM) Q2 2024 Earnings Call Transcript

Piedmont Office Realty Trust, Inc. (NYSE:PDM ) Q2 2024 Earnings Conference Call August 1, 2024 9:00 AM ET Company Participants Laura Moon - Chief Accounting Officer & Senior Vice President Brent Smith - President, Chief Executive Officer & Director George Wells - Chief Operating Officer & Executive Vice President Chris Kollme - Executive Vice President-Investments and Strategy Bobby Bowers - Chief Financial & Administrative Officer- Executive Vice President Conference Call Participants Nick Thillman - Baird Dylan Burzinski - Green Street Michael Lewis - Truist Securities Operator Good day, and welcome to the Piedmont Office Realty Trust Incorporated Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.

Piedmont Office Realty Trust, Inc. (PDM) Q2 2024 Earnings Call Transcript

Zacks Investment Research

Piedmont Office (PDM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Although the revenue and EPS for Piedmont Office (PDM) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Piedmont Office (PDM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Investment Research

Piedmont Office (PDM) Q2 FFO Match Estimates

Piedmont Office (PDM) came out with quarterly funds from operations (FFO) of $0.37 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.45 per share a year ago.

Piedmont Office (PDM) Q2 FFO Match Estimates

Piedmont Office Realty Trust Reports Second Quarter 2024 Results

- Completes over one million square feet of leasing during the quarter - - Completes over one million square feet of leasing during the quarter -

Piedmont Office Realty Trust Reports Second Quarter 2024 Results

PIEDMONT OFFICE REALTY TRUST DECLARES THIRD QUARTER DIVIDEND

Atlanta, July 25, 2024 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust (NYSE: PDM) (“Piedmont”), a real estate investment trust (REIT), announced today that its board of directors has declared a regular quarterly cash dividend of $0.125 per share, or $0.50 per share on an annualized basis, for the third quarter of 2024. The dividend will be paid on September 20, 2024 to stockholders of record as of the close of business on August 23, 2024.

PIEDMONT OFFICE REALTY TRUST DECLARES THIRD QUARTER DIVIDEND

Picking A Winner In High-Yield REITs

REIT yields are high due to sell-off in 2022 and 2023, but REIT prices may rise if the Fed cuts rates in September as expected. Dividend safety is crucial when investing in high-yielding REITs, to avoid potential dividend cuts and share price sell-offs. Market cap, balance sheet strength, FFO growth forecast, dividend score, and price are key factors in identifying the best high-yield REIT for investment.

Picking A Winner In High-Yield REITs

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