Piedmont Office Realty Trust (NYSE:PDM) Raised to B- at TheStreet

TheStreet upgraded shares of Piedmont Office Realty Trust (NYSE:PDM) from a c+ rating to a b- rating in a research report released on Friday morning, TheStreetRatingsTable reports.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Piedmont Office Realty Trust from a hold rating to a buy rating and set a $25.00 price objective for the company in a research report on Wednesday, November 6th. ValuEngine cut shares of Piedmont Office Realty Trust from a hold rating to a sell rating in a research report on Wednesday, October 2nd. DA Davidson cut shares of Piedmont Office Realty Trust from a buy rating to a neutral rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird set a $25.00 price target on shares of Piedmont Office Realty Trust and gave the stock a hold rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $23.33.

PDM traded down $0.13 during midday trading on Friday, hitting $21.70. The company had a trading volume of 27,132 shares, compared to its average volume of 598,389. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $2.74 billion, a PE ratio of 12.51 and a beta of 0.68. Piedmont Office Realty Trust has a twelve month low of $16.43 and a twelve month high of $22.58. The firm’s 50-day simple moving average is $21.19 and its 200-day simple moving average is $20.54.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.38). The company had revenue of $135.46 million during the quarter, compared to analyst estimates of $127.16 million. Piedmont Office Realty Trust had a net margin of 20.92% and a return on equity of 6.58%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. As a group, sell-side analysts anticipate that Piedmont Office Realty Trust will post 1.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, November 29th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Wednesday, November 27th. Piedmont Office Realty Trust’s dividend payout ratio is 48.55%.

Large investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new stake in shares of Piedmont Office Realty Trust during the 2nd quarter worth approximately $27,000. Garrett Wealth Advisory Group LLC bought a new position in Piedmont Office Realty Trust during the 3rd quarter worth approximately $30,000. Personal Wealth Partners bought a new position in Piedmont Office Realty Trust during the 2nd quarter worth approximately $36,000. Manchester Financial Inc. bought a new position in Piedmont Office Realty Trust during the 2nd quarter worth approximately $43,000. Finally, Neo Ivy Capital Management bought a new position in Piedmont Office Realty Trust during the 2nd quarter worth approximately $53,000. Institutional investors own 86.83% of the company’s stock.

About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc (NYSE: PDM) is an owner, manager, developer, and operator of high-quality, Class A office properties in select sub-markets located primarily within eight major U.S. office markets. Its geographically-diversified, almost $5 billion portfolio is currently comprised of approximately 17 million square feet.

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