Piedmont Office Realty Trust (PDM) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Piedmont Office Realty Trust (NYSE:PDM) announced its earnings results on Thursday. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.01, American Banking News reports. During the same quarter in the prior year, the company posted $0.35 earnings per share.
Shares of Piedmont Office Realty Trust (NYSE:PDM) opened at 19.60 on Thursday. Piedmont Office Realty Trust has a 52-week low of $15.83 and a 52-week high of $19.83. The stock’s 50-day moving average is $19.14 and its 200-day moving average is $17.8. The company has a market cap of $3.024 billion and a P/E ratio of 33.94.
A number of research firms have recently commented on PDM. Analysts at Morgan Stanley downgraded shares of Piedmont Office Realty Trust to an “underweight” rating in a research note on Tuesday, July 15th. They now have a $18.00 price target on the stock. Analysts at Stifel Nicolaus upgraded shares of Piedmont Office Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Piedmont Office Realty Trust has an average rating of “Hold” and an average target price of $18.60.
Piedmont Office Realty Trust, Inc (NYSE:PDM) is a real estate investment trust (REIT).
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