Brokerages Set Piedmont Office Realty Trust, Inc. (NYSE:PDM) PT at $23.33

Piedmont Office Realty Trust, Inc. (NYSE:PDM) has been given an average rating of “Hold” by the seven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $23.50.

Several research analysts have commented on PDM shares. Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, November 6th. TheStreet raised Piedmont Office Realty Trust from a “c+” rating to a “b-” rating in a report on Friday, November 15th. SunTrust Banks raised their price target on Piedmont Office Realty Trust from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, November 29th. Robert W. Baird set a $25.00 price target on Piedmont Office Realty Trust and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, ValuEngine lowered Piedmont Office Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

A number of institutional investors have recently added to or reduced their stakes in PDM. Prime Capital Investment Advisors LLC bought a new stake in Piedmont Office Realty Trust during the second quarter valued at $27,000. Garrett Wealth Advisory Group LLC purchased a new position in Piedmont Office Realty Trust in the 3rd quarter valued at approximately $30,000. Personal Wealth Partners acquired a new stake in Piedmont Office Realty Trust during the second quarter worth about $36,000. Manchester Financial Inc. purchased a new stake in shares of Piedmont Office Realty Trust during the second quarter valued at approximately $43,000. Finally, Neo Ivy Capital Management acquired a new position in Piedmont Office Realty Trust in the 2nd quarter worth $53,000. 86.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Piedmont Office Realty Trust stock traded up $0.11 during trading hours on Friday, hitting $22.25. The company had a trading volume of 30,410 shares, compared to its average volume of 798,955. The company’s 50-day moving average is $21.57 and its two-hundred day moving average is $20.62. Piedmont Office Realty Trust has a twelve month low of $16.43 and a twelve month high of $22.58. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $2.78 billion, a P/E ratio of 12.87 and a beta of 0.68.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, November 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.84 annualized dividend and a yield of 3.78%. Piedmont Office Realty Trust’s dividend payout ratio is currently 48.55%.

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.

Featured Story: What is intrinsic value?

Receive News & Ratings for Piedmont Office Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Office Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit