Piedmont Office Realty Trust said on February 1, 2023 that its board of directors declared a regular
quarterly dividend of $0.21 per share ($0.84 annualized).
Shareholders of record as of February 23, 2023
will receive the payment on March 17, 2023.
Previously, the company paid $0.21 per share.
At the current share price of $10.69 / share,
the stock’s dividend yield is 7.86%.
Looking back five years and taking a sample every week, the average dividend yield has been
5.00%,
the lowest has been 3.49%,
and the highest has been 9.52%.
The standard deviation of yields is 1.17 (n=236).
The current dividend yield is
2.45 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 2.62.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Analyst Price Forecast Suggests 30.40% Upside
As of February 4, 2023,
the average one-year price target for Piedmont Office Realty Trust is $13.94.
The forecasts range from a low of $13.13 to a high of $14.70.
The average price target represents an increase of 30.40% from its latest reported closing price of $10.69.
The projected annual revenue for Piedmont Office Realty Trust
is $596MM, an increase of 7.43%.
The projected annual EPS
is $0.10, a decrease of 68.45%.
Fund Sentiment
There are 534 funds or institutions reporting positions in Piedmont Office Realty Trust.
This is a decrease
of
10
owner(s) or 1.84%.
Average portfolio weight of all funds dedicated to US:PDM is 0.1385%,
a decrease
of 17.0671%.
Total shares owned by institutions increased
in the last three months by 4.21% to 121,037K shares.
What are large shareholders doing?
VGSIX – Vanguard Real Estate Index Fund Investor Shares
holds 5,588,083 shares
representing 4.53% ownership of the company.
In it’s prior filing, the firm reported owning 5,655,389 shares, representing
a decrease
of 1.20%.
The firm
decreased
its portfolio allocation in PDM by 9.63% over the last quarter.
Wellington Management Group Llp
holds 4,520,674 shares
representing 3.66% ownership of the company.
In it’s prior filing, the firm reported owning 4,231,623 shares, representing
an increase
of 6.39%.
The firm
decreased
its portfolio allocation in PDM by 87.36% over the last quarter.
Lsv Asset Management
holds 4,415,394 shares
representing 3.58% ownership of the company.
In it’s prior filing, the firm reported owning 4,447,194 shares, representing
a decrease
of 0.72%.
The firm
decreased
its portfolio allocation in PDM by 13.17% over the last quarter.
Cbre Clarion Securities
holds 3,698,865 shares
representing 3.00% ownership of the company.
In it’s prior filing, the firm reported owning 3,562,718 shares, representing
an increase
of 3.68%.
The firm
decreased
its portfolio allocation in PDM by 2.96% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 3,572,695 shares
representing 2.90% ownership of the company.
In it’s prior filing, the firm reported owning 3,673,305 shares, representing
a decrease
of 2.82%.
The firm
decreased
its portfolio allocation in PDM by 18.40% over the last quarter.
Piedmont Office Realty Trust Background Information
(This description is provided by the company.)
Piedmont Office Realty Trust, Inc. is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, with the majority of its revenue being generated from the Sunbelt. Its geographically-diversified, approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. 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 S&P Global Ratings (BBB) and Moody’s (Baa2). As of December 31, 2020, approximately 64% of the company’s portfolio was ENERGY STAR certified and approximately 43% was LEED certified.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
