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.
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.
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