Piedmont Office Stock To Go Ex-dividend Tomorrow (PDM)
The ex-dividend date for Piedmont Office Realty (NYSE:PDM) is tomorrow, November 29, 2011. Owners of shares as of market close today will be eligible for a dividend of 32 cents per share. At a price of $16.48 as of 9:30 a.m., the dividend yield is 7.9%.
NEW YORK ( TheStreet) -- The ex-dividend date for Piedmont Office Realty (NYSE: PDM) is tomorrow, November 29, 2011. Owners of shares as of market close today will be eligible for a dividend of 32 cents per share. At a price of $16.48 as of 9:30 a.m. ET, the dividend yield is 7.9%. The average volume for Piedmont Office has been 1.3 million shares per day over the past 30 days. Piedmont Office has a market cap of $2.87 billion and is part of the financial sector and real estate industry. Shares are down 20.5% year to date as of the close of trading on Friday. Piedmont Office Realty Trust, Inc. engages in the acquisition and ownership of commercial real estate properties in the United States. Its property portfolio primarily consists of office and industrial buildings, warehouses, and manufacturing facilities. The company has a P/E ratio of 25.4, above the average real estate industry P/E ratio of 21.6 and above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Piedmont Office as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and poor profit margins. You can view the full Piedmont Office Ratings Report. See our dividend calendar or top-yielding stocks list.