3-May-2024
REITs close April at larger discounts to NAV per share estimates
Seeking Alpha News (Thu, 2-May 2:59 PM ET)
Truist Financial Reaffirms Their Buy Rating on Piedmont Office (PDM)
TipRanks (Wed, 1-May 7:17 AM ET)
Piedmont Office FFO of $0.39 beats by $0.01
Seeking Alpha News (Tue, 30-Apr 5:11 PM ET)
Piedmont Office Realty Trust Reports First Quarter 2024 Results
Globe Newswire (Tue, 30-Apr 4:15 PM ET)
Piedmont Office Realty Trust Declares Second Quarter Dividend
Globe Newswire (Wed, 24-Apr 4:30 PM ET)
Piedmont Office Realty Trust, Inc. to Report First Quarter 2024 Financial Results
Globe Newswire (Tue, 9-Apr 4:15 PM ET)
Piedmont Office Realty Trust Earns ENERGY STAR Partner Of The Year Sustained Excellence
Globe Newswire (Thu, 28-Mar 6:30 AM ET)
Piedmont Completes Sale of One Lincoln Park
Globe Newswire (Wed, 20-Mar 5:14 PM ET)
Piedmont Office Realty Trust Reports Fourth Quarter and Annual 2023 Results
Globe Newswire (Wed, 7-Feb 4:15 PM ET)
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.
Piedmont Office Realty Trust Class A trades on the NYSE stock market under the symbol PDM.
As of May 3, 2024, PDM stock price climbed to $6.91 with 509,920 million shares trading.
PDM has a beta of 1.87, meaning it tends to be more sensitive to market movements. PDM has a correlation of 0.30 to the broad based SPY ETF.
PDM has a market cap of $855.46 million. This is considered a Small Cap stock.
Last quarter Piedmont Office Realty Trust Class A reported $145 million in Revenue and $.39 earnings per share. This fell short of revenue expectation by $-1 million and met earnings estimates .
In the last 3 years, PDM stock traded as high as $20.35 and as low as $4.91.
The top ETF exchange traded funds that PDM belongs to (by Net Assets): VNQ, VTI, VB, IWM, VBR.
PDM stock has underperformed the market in the last year with a return of +20.9%, while SPY returned +27.0%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in PDM shares. However, PDM has outperformed the market in the last 3 month and 2 week periods, returning +5.2% and +6.3%, while SPY returned +3.7% and +3.3%, respectively. This indicates PDM has been having a stronger performance recently.
PDM support price is $6.67 and resistance is $6.99 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PDM stock will trade within this expected range on the day.