Piedmont Office Realty Trust PT Raised to $20.00 at RBC Capital (PDM)
Equities researchers at RBC Capital hoisted their price objective on shares of Piedmont Office Realty Trust (NYSE:PDM) from $18.00 to $20.00 in a research report issued on Friday. The firm currently has an “underperform” rating on the stock. RBC Capital’s price objective would suggest a potential upside of 1.94% from the company’s current price.
Shares of Piedmont Office Realty Trust (NYSE:PDM) opened at 19.55 on Friday. Piedmont Office Realty Trust has a 1-year low of $15.83 and a 1-year high of $19.83. The stock’s 50-day moving average is $19.26 and its 200-day moving average is $18.06. The company has a market cap of $3.017 billion and a P/E ratio of 44.19.
Piedmont Office Realty Trust (NYSE:PDM) last announced its earnings results on Thursday, July 31st. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, analysts predict that Piedmont Office Realty Trust will post $1.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Wednesday, August 27th.
Separately, 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. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $19.00.
Piedmont Office Realty Trust, Inc (NYSE:PDM) is a real estate investment trust (REIT).
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