Piedmont Office Realty Trust Receives Average Recommendation of “Hold” from Analysts (NYSE:PDM)
Piedmont Office Realty Trust (NYSE:PDM) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, ARN reports. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.00.
Piedmont Office Realty Trust (NYSE:PDM) opened at 19.49 on Tuesday. Piedmont Office Realty Trust has a 52 week low of $15.83 and a 52 week high of $19.97. The stock has a 50-day moving average of $19.48 and a 200-day moving average of $18.31. The company has a market cap of $3.008 billion and a price-to-earnings ratio of 43.78.
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. Analysts expect that Piedmont Office Realty Trust will post $1.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Investors 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 4.10%. The ex-dividend date is Wednesday, August 27th.
A number of analysts have recently weighed in on PDM shares. Analysts at RBC Capital raised their price target on shares of Piedmont Office Realty Trust from $18.00 to $20.00 in a research note on Friday, August 15th. They now have an “underperform” rating on the stock. 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.
Piedmont Office Realty Trust, Inc (NYSE:PDM) is a real estate investment trust (REIT).
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