Piedmont Office Realty Trust Inc. (NYSE:PDM) finished Friday with a subtraction of -$0.12 to close at $6.36, a downside of -1.85 percent. An average of 1,401,500 shares of common stock have been traded in the last five days. There was a fall of -$0.14 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 1,281,485 shares traded, while the 50-day average volume stands at 1,520,742.
PDM stock has decreased by -11.91% in the last month. The company shares reached their 1-month lowest point of $6.28 on 08/23/23. With the stock rallying to its 52-week high on 02/09/23, shares of the company touched a low of $5.99 and a high of $12.70 in 52 weeks. It has reached a new high 12 times so far this year and lost -30.64% or -$2.81 in price. In spite of this, the price is down -49.92% from the 52-week high.
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Valuation Metrics
Piedmont Office Realty Trust Inc. (PDM) has a trailing price-to-earnings (P/E) ratio of 10.39. The stock’s beta is 1.04. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.38, the price-to-book (PB) ratio at 0.44.
The company has a payout ratio of 137.20%. The company’s most recent quarterly dividend payment was $0.1250 a share, representing a down of -40.48% from $0.21 last year. Its latest decrease dividend $0.0850 reported on Wednesday July 26 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 1.14 and a total debt to equity ratio of 1.14 for the quarter ending June 29. Its gross profit as reported stood at $58.05 million compared to revenue of $563.77 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Piedmont Office Realty Trust Inc.’s return on assets was 1.80%.
Earnings Surprise
For the three-month period that ended June 29, Piedmont Office Realty Trust Inc. had $197.0 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$1.99 million in the quarter, while revenues of -$1.37 million were grew 500.5%. The analyst consensus anticipated Piedmont Office Realty Trust Inc.’s latest quarter earnings to come in at $0 per share, but it turned out to be -$0.02. For the quarter, EBITDA amounted to $76.86 million. At the end of the quarter ending June 29, Piedmont Office Realty Trust Inc.’s stock balance sheet showed total debt was $2.05 billion. Shareholders own equity worth $123.7 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Piedmont Office Realty Trust Inc. (PDM) price momentum. RSI 9-day as of the close on 25 August was 31.04%, suggesting the stock is Neutral, with historical volatility in this time frame at 24.97%.
As of today, PDM’s price is $6.45 -2.15% or -$0.14 from its 5-day moving average. PDM is currently trading -13.47% lower than its 20-day SMA and -12.64% lower than its 100-day SMA. However, the stock’s current price level is -7.42% below the SMA50 and -38.31% below the SMA200.
The stochastic %K and %D were 17.76% and 15.56%, respectively, and the average true range (ATR) was 0.23. With the 14-day stochastic at 8.51% and the average true range at 0.24, the RSI (14) stands at 35.17%. The stock has reached -0.04 on the 9-day MACD Oscillator while the 14-day reading was at -0.20.
Analyst Ratings
Robert W. Baird upgraded Piedmont Office Realty Trust Inc. (NYSE: PDM) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Piedmont Office Realty Trust Inc. (PDM) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PDM, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 1 others rate it as a “buy”.
What is PDM’s price target for the next 12 months?
Analysts predict a range of price targets between $8.50 and $13.00, with a median target of $11.00. Taking a look at these predictions, the average price target given by analysts for Piedmont Office Realty Trust Inc. (PDM) stock is $10.83.
