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Piedmont Office (PDM) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

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Piedmont Office (PDM - Free Report) reported $145.33 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 1.3%. EPS of $0.41 for the same period compares to $0.61 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $146.37 million, representing a surprise of -0.71%. The company delivered an EPS surprise of -2.38%, with the consensus EPS estimate being $0.42.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Piedmont Office performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Rental and tenant reimbursement revenue: $139.45 million versus the two-analyst average estimate of $140.77 million.
  • Revenues- Other property related income: $5.50 million versus $5.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +16.7% change.
  • Revenues- Property management fee revenue: $0.39 million versus the two-analyst average estimate of $0.42 million. The reported number represents a year-over-year change of -1.5%.
  • Net income per share applicable to common stockholders-diluted: -$0.23 versus the two-analyst average estimate of -$0.04.
View all Key Company Metrics for Piedmont Office here>>>

Shares of Piedmont Office have returned -10.7% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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