Piedmont Workplace (PDM) got here out with quarterly funds from operations (FFO) of $0.48 per share, consistent with the Zacks Consensus Estimate. This compares to FFO of $0.49 per share a 12 months in the past. These figures are adjusted for non-recurring objects.
1 / 4 in the past, it was anticipated that this industrial actual property funding belief would put up FFO of $0.47 per share when it truly produced FFO of $0.48, delivering a shock of two.13%.
During the last 4 quarters, the corporate has surpassed consensus FFO estimates 3 times.
Piedmont Workplace, which belongs to the Zacks REIT and Fairness Belief – Different trade, posted revenues of $130.22 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 2.08%. This compares to year-ago revenues of $134.63 million. The corporate has topped consensus income estimates two instances during the last 4 quarters.
The sustainability of the inventory’s rapid worth motion primarily based on the recently-released numbers and future FFO expectations will largely depend upon administration’s commentary on the earnings name.
Piedmont Workplace shares have added about 16.6% because the starting of the 12 months versus the S&P 500’s achieve of 17.2%.
What’s Subsequent for Piedmont Workplace?
Whereas Piedmont Workplace has underperformed the market thus far this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s FFO outlook. Not solely does this embody present consensus FFO expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis reveals a robust correlation between near-term inventory actions and traits in estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a formidable monitor file of harnessing the facility of estimate revisions.
Forward of this earnings launch, the estimate revisions development for Piedmont Workplace was blended. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You’ll be able to see the whole checklist of at this time’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It is going to be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus FFO estimate is $0.49 on $128.87 million in revenues for the approaching quarter and $1.94 on $516.25 million in revenues for the present fiscal 12 months.
Traders ought to be conscious of the truth that the outlook for the trade can have a cloth influence on the efficiency of the inventory as nicely. By way of the Zacks Business Rank, REIT and Fairness Belief – Different is at the moment within the backside 36% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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