Piedmont Office Realty Trust (PDM) Posts Quarterly Results
Piedmont Office Realty Trust (NYSE:PDM) posted its quarterly earnings results on Friday. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02, Analyst Ratings Network.com reports. The company had revenue of $145.10 million for the quarter, compared to the consensus estimate of $109.42 million. The company’s revenue for the quarter was up 9.4% on a year-over-year basis.
Piedmont Office Realty Trust (NYSE:PDM) opened at 18.48 on Friday. Piedmont Office Realty Trust has a 52-week low of $14.62 and a 52-week high of $21.09. The stock’s 50-day moving average is $17.92 and its 200-day moving average is $18.49. The company has a market cap of $3.075 billion and a P/E ratio of 41.23.
Several analysts have recently commented on the stock. Analysts at TheStreet downgraded shares of Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, September 11th. On a related note, analysts at RBC Capital cut their price target on shares of Piedmont Office Realty Trust from $19.00 to $18.00 in a research note to investors on Friday, August 16th. They now have an “underperform” rating on the stock. Finally, analysts at Robert W. Baird downgraded shares of Piedmont Office Realty Trust from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, August 8th. They now have a $19.00 price target on the stock, down previously from $22.00. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.33.
Piedmont Office Realty Trust, Inc (NYSE:PDM) is a real estate investment trust (REIT).
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